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Three-Month Central Government Deficit Is Lower than at the Same Time Last Year

Date

2016 05 02

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According to the data by the Ministry of Finance, in 2016 the three-month central government deficit amounted to EUR 197 million or 0.5% of the projected GDP for 2016, and it was by EUR 151.8 million or 0.4 percentage point lower than the one in the same period of 2015. The three-month central government revenue totalled EUR 2.395 billion, expenditure – EUR 2.560 billion. Transactions in non-financial assets over January-March this year made up EUR 31.6 million.

Taxes constituted 50.9% of the three-month central government revenue, social contributions – 43.9%. Over three months the major share of expenditure was allocated to social payments (55.8%).

In March 2016 central government revenue was EUR 809.9 million, expenditure – EUR 925 million. Transactions in non-financial assets over March this year amounted to EUR 11.5 million. In March 2016 central government deficit was EUR 126.6 million and accounted for 0.3% of the projected GDP for the current year.

In March the major share of central government revenue was gained from taxes (46.6%) and social contributions (48.1%). The major share of expenditure was allocated to social payments (59.9%).

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 budget), extrabudgetary funds (Guarantee Fund, Reserve (Stabilisation) Fund, Ignalina NPP Decommissioning Fund), funds of the Agricultural Credit Guarantee Fund held on the State Treasury Account and State Enterprise Manager of Centrally Managed State Assets Turto bankas.

Public Relations Division
Phone: +370 5 2194 449
vrs@finmin.lt
www.finmin.lrv.lt