Analytics, Budget, EU – Baltic States, Financial Services, GDP, Lithuania
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Thursday, 25.04.2024, 14:13
Lithuania's general government deficit in 2014 accounted for 0.7% of GDP
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As recently reported by Eurostat, the statistical office of the European Union (EU), in 2014 Lithuania posted the smallest budget deficit among the EU member-states.
Lithuanian Finance Minister Rimantas Sadzius stressed that the country has not seen such a progressive indicator since 2006. "The Government's responsible attitude to fiscal discipline, strict planning of general government expenditure, and growing economy which has been resistant to external challenges were the factors that gave such a positive result. Now, the main task is to maintain the sustainability of fiscal deficit," the minister said.
In 2014, total general government revenue amounted to EUR 12.434 billion, expenditure – EUR 12.676 billion.
Last year, Lithuania's general government deficit, compared to 2013, went down by EUR 674.9 million and accounted for EUR 242 million.
In 2014, the major share of the country's general government revenue came from taxes (49%) and social contributions (33.4%).
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