Budget, Financial Services, Insurance, Lithuania
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Lithuanian social insurance fund runs EUR 162.7 mln deficit in 2015
BC, Vilnius, 20.01.2016.
Print version
Print versionLithuania’s State Social Insurance Fund (Sodra) recorded a budget deficit of 162.7 million euros in 2015, which was 20.2 million euros, or 11%, below the target, data from the Social Security and Labor Ministry showed on January 20th, informs LETA/BNS.
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Year-on-year, the deficit narrowed by 132.4 million euros, or 45%.
The Fund’s budget revenues rose by an annual 8.3%, or 242.5 million euros, to 3.174 billion euros and were the highest since 2008.
According to the ministry, the growth of revenues was mostly driven by the increasing number of the insured and by wage growth.
The Fund’s budget expenditures last year increased by an annual 3.4%, or 110.1 million euros, to 3.336 billion euros, which was 1.3%, or 45.4 million euros below the planned amount.
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