Budget, Financial Services, GDP, Lithuania

International Internet Magazine. Baltic States news & analytics Monday, 26.10.2020, 12:54

Lithuania's govt deficit estimated at 5% GDP next year – bill

BC, Vilnius, 15.10.2020.Print version
Lithuania's general government deficit is estimated at 5% GDP next year, the country's Finance Ministry announced on Wednesday, having presented next year's budget bill, reported LETA/BNS.

"The general government deficit is planned at 5% in 2021," the explanatory note accompanying the budget bill states.

The Finance Ministry says in 2021 "a fiscal policy supporting economic recovery will be implemented".

This year, the general government deficit – the difference between expenditure and revenue – might stand at 8.8% GDP. The whole in the budget has formed due to the government's expenditure aimed at mitigating damage from the coronavirus crisis, as well as due to a drop in revenue from a shrinking economy.

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