In February Central Government Debt Declined to 38.4% of GDP


2016 03 31


After Lithuania redeemed the Eurobond issue of EUR 1 billion on international markets in February this year, central government debt significantly narrowed and in end-month it was EUR  14.808 billion or 38.4% of the projected GDP for 2016 (EUR 38.528 billion), the Ministry of Finance informs.

“For the second year in a row we refinance the previous Eurobond issues by 2-3 times cheaper borrowed funds. This allows budget savings for interest payments and their allocation to our public needs,” Minister of Finance Rimantas Šadžius said.

At the end of February central government foreign debt made up 77.1% of total central government debt: central government was indebted to foreign financial institutions EUR 10.021 billion, international organisations – EUR 1.392 billion.

In end-February central government domestic debt accounted for 22.9% of total debt: central government was indebted to domestic financial sector EUR 2.795 billion, non-financial sector – EUR 0.085 billion, and other creditors – EUR 0.515 billion.

Total long-term central government debt made up EUR 14.706 billion (99.3% of total debt), short-term debt – EUR 0.102 billion (0.7%).

At the end of February this year the structure of central government debt by currency was as follows: in euro – 63.6%, US dollar – 35.3%, Swiss francs – 1.1%.

Taking into consideration the financial derivatives applied, in February the debt totalled EUR 13.872 billion. It accounted for 36% of the projected GDP for 2016.

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