Minister of Finance T. Valys: "Positive assessments by international credit rating agencies continue for Lithuania"
Lithuania's economy remains one of the fastest growing among European countries with similar credit ratings, and responsible fiscal policies allow maintaining one of the lowest levels of public debt in the euro area. This is noted by the international credit rating agency Scope Ratings, which on Friday evening maintained the long-term credit rating A+ with a stable outlook previously granted to Lithuania.
“Positive assessments by international credit rating agencies continue for Lithuania. They show that Lithuania is able to combine two important objectives: ensuring economic growth and managing public finances responsibly. This strengthens investor confidence in our country, but at the same time reminds us that we must continue to adhere to responsible public finance management principles, even by increasing investment in national security," Minister of Finance Taurim Valys said.
Scope Ratings experts identify resilient and increasingly diversified economy, sound public finances and a strong institutional framework as the main advantages of Lithuania’s credit rating. According to the agency, Lithuania's effective policy-making is ensured by its membership of the euro area, which provides a solid basis for fiscal and economic policy. According to analysts, the country's membership in the European Union and NATO is a reliable tool for mitigating external security risks in the current context of heightened geopolitical tensions.
At the same time, the credit rating agency notes that Lithuania has been rapidly approaching euro area income levels in recent years due to strong economic growth and increased macroeconomic resilience. Lithuania’s economy grew by 2.9% in 2025, much faster than in many other countries with similar levels of development, despite persisting regional challenges. Economic growth is projected to remain strong this year and next (3.1% and 2.5% respectively), driven mainly by strong household demand.
Scope Ratings states that consistent responsible fiscal policy practices have led to Lithuania’s general government debt being among the lowest in the euro area, standing at 39.5% of GDP at the end of 2025. Ambitious commitments to increase defence spending should slow down the process of restoring fiscal discipline and lead to a moderate increase in the debt-to-GDP ratio over the medium term. General government debt is projected to increase to around 50% of GDP by 2031, however, will remain low compared to other euro area countries.
According to the agency's experts, Lithuania's credit rating is most at risk from susceptibility to external shocks, unfavourable demographic trends and high defence spending.
The latest report by the credit rating agency Scope Ratings is available here.
At the end of May, another international credit rating agency, S&P Global Ratings, left the long-term rating ‘A’ with a stable outlook previously granted to Lithuania.
At the end of April, the international credit rating agency Fitch Ratings, after a positive assessment of Lithuania’s economic situation, after a break of 6 years, upgraded the country’s credit rating from ‘A’ to ‘A+’ with a stable outlook. This credit rating by Fitch Ratings for Lithuania is currently the highest among the three major agencies’ long-term credit ratings for our country.
In mid-April, another international credit rating agency, Moody’s Investment Service, reconfirmed the A2 long-term credit rating previously granted to Lithuania and left a stable outlook. Moody’s last upgrade of Lithuania’s credit ratings took place in February 2021, when the A3 (positive outlook) long-term credit rating issued in 2015 was upgraded to A2 (stable outlook).
On 10 April, the long-term A (high) rating with a stable outlook to Lithuania was also confirmed by Morningstar DBRS. This international credit rating agency last changed Lithuania’s long-term rating in November 2021 by upgrading it from ‘A’ to ‘A (high)’ with a stable rating outlook.
More information about Lithuanian credit ratings can be found here.
Additional information:
A credit rating is an indicator that provides investors (creditors) with concentrated information on the degree of ability of the borrower to meet its financial obligations. A high credit rating indicates a lower risk of default by the debtor/issuer and, accordingly, a lower cost of borrowing.
They use specific classifications and symbols to express credit ratings and determine the credit value for borrowing countries and companies by using standardised credit ratings.