Bloomberg News

Lithuanian Finance Ministry Sees 3% Budget Deficit in 2012

December 06, 2011

Dec. 6 (Bloomberg) -- Lithuania’s budget deficit may total 3 percent of gross domestic product next year, the Finance Ministry said today by e-mail.

That’s higher than an initial plan to cut the shortfall to 2.8 percent of GDP next year. The ministry lowered its 2012 economic-growth forecast to 2.5 percent from 4.7 percent last week.

Lithuania is seeking to narrow its budget deficit from an estimated 5.3 percent of GDP this year. The government has pledged to reduce spending by 4 percent to help close the gap.

--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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