Bloomberg News

Lithuania May Borrow $3.8 Billion a Year to Fund Budget Gap

September 28, 2011

Sept. 28 (Bloomberg) -- Lithuania said it may borrow 9.5 billion litai ($3.8 billion) a year in 2012 and 2013 to finance its budget deficit and refinance maturing debt.

Borrowing may fall to 6 billion litai in 2014, the government, based in the capital, Vilnius, said today on its website. State debt is projected to narrow to 35.4 percent of gross domestic product by 2014 from an estimated 38.1 percent this year, it said.

--Editors: Andrew Langley, Douglas Lytle

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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