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Five-Month Central Government Deficit is Lower than at the Same Time Last Year

Date

2016 07 01

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Vilnius, 30 June. According to the data by the Ministry of Finance, in 2016 the five-month central government deficit amounted to EUR 13.5 million or 0.04% of the projected GDP for 2016 and was by EUR 263.3 million or by 0.7 percentage point lower than the one in the same period of 2015. The five-month central government revenue totalled EUR 4.311 billion, expenditure – EUR 4.245 billion. Transactions in non-financial assets over January-May this year made up EUR 80 million.

Taxes represented 49.7% of the five-month central government revenue, social contributions – 42.9%. Over five months the major share of expenditure was allocated to social payments – 55.7%.

In May 2016 central government revenue was EUR 1.031 billion, expenditure – EUR 842 million. Transactions in non-financial assets over May this year amounted to EUR 27.4 million. In May 2016 the central government surplus was EUR 161.6 million and accounted for 0.42% of the projected GDP for the current year.

In May the major share of central government revenue was generated from taxes (49.8%) and social contributions (38.4%). The largest share of expenditure was allocated to social payments (54.7%).

The projected GDP for 2016 is EUR 38.528 billion.

Additional information

Central government data is published following the IMF’s Special Data Dissemination Standards. Central government covers the State budget, Social Security Funds (“Sodra”, Compulsory Health Insurance Fund budgets), extrabudgetary funds (Guarantee Fund, Reserve (Stabilisation) Fund, Ignalina NPP Decommissioning Fund), resources of the Agricultural Credit Guarantee Fund held on the State Treasury Account and the manager of centrally-managed state assets - State Enterprise Turto bankas.

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