Lithuanian Central Government Budget Gap Narrows to 1.9% of GDP

Lithuania’s central government budget deficit was 1.9 percent of gross domestic product in the first five months of the year, the Finance Ministry said.

The shortfall, calculated on a cash basis, narrowed from 2.5 percent in the same period of 2011, the ministry, based in the capital, Vilnius, said today on its website. The measure includes all public finances except municipal budgets.

Prime Minister Andrius Kubilius’ government wants to narrow the fiscal deficit to 3 percent of GDP this year from 5.5 percent in 2011. Government debt fell to 38.6 percent of economic output at the end of May from 40.5 percent in April, the ministry said in a separate statement.

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