Analytics, Budget, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Tuesday, 02.06.2020, 01:15

Lithuania's govt sector posts 1st surplus budget in 2016

BC, Vilnius, 05.04.2017.Print version
The budget of the Lithuanian government sector was surplus in 2016, according to preliminary estimates. Economist Gitanas Nauseda says this was the first time in 26 years when the sector's revenue exceeded the spending, citing LETA/BNS.

"Database of Statistics Lithuania suggests that the 2016 budget of the government sector had a belly in 2016 for the first time in 26 years, i.e., it was a surplus – 0.3% of the GPD in the green," Nauseda said in his Facebook feed.

According to data provided by the statistics agency, the government sector's surplus last year stood at 112.3 mln euros, which, according to calculations by LETA/BNS, accounted for 0.29% of the gross domestic product (GDP). In 2015, the government sector's deficit was 74.7 mln euros.

The sector last year raised its revenue by 2.2% to 13.326 bln euros, while the spending inched down 0.8% to 13.214 bln euros.

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