Lithuanian Budget Revenue Tops Government Target in First Half

Lithuania’s budget revenue increased 4.6 percent from a year earlier in the first six months of 2012, exceeding the government’s target.

Revenue rose to 9.99 billion litai ($3.52 billion), the Finance Ministry, based in the capital, Vilnius, said today in a statement on its website. The Baltic nation had sought to collect 9.76 billion litai in the period.

The government plans to narrow the budget deficit to 3 percent of gross domestic product this year from 5.5 percent in 2011.

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