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

Date

2016 03 31

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According to the data by the Ministry of Finance, in 2016 the two-month central government deficit amounted to EUR 70.4 million or 0.2% of the GDP projected for 2016, and it was by EUR 170.8 million or 0.4 percentage point lower than the one in the same period of 2015. The two-month central government revenue totalled EUR 1.585 billion, expenditure – EUR 1.635 billion. Transactions in non-financial assets over January-February this year made up EUR 20.1 million.

Taxes constituted 52.4% of the two-month central government revenue, social contributions – 41.2%. Over two months the major share of expenditure was allocated to social payments – 49.3%.

In February 2016 central government revenue was EUR 773.8 million, expenditure – EUR 1.003 billion. Transactions in non-financial assets over February this year amounted to EUR 17.5 million. In February 2016 central government deficit was EUR 246.3 million and accounted for 0.6% of the projected GDP for the current year.

In February the major share of central government revenue was gained from taxes (44%) and social contributions (49.5%). The major share of expenditure was allocated to social payments (47.3%).

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
+370 5 2194 449
vrs@finmin.lt
www.finmin.lrv.lt