Lithuania Government Debt Shrinks in October to 37.5% of GDP

Lithuania’s central government debt shrank to 37.5 percent of this year’s projected gross domestic product at the end of October, 0.4 percentage points less than a month earlier, the Finance Ministry said.

The Baltic nation’s total state debt at Oct. 31 was 42.1 billion litai ($15.9 billion), the ministry in Vilnius, the capital, said on its website today. That compared with 41.8 billion litai, or 37.9 percent of GDP, at the end of September. The proportion of debt that was long-term was unchanged in the month at 97 percent.

Foreign debt denominated in currencies other than litai or euros is valued at the exchange rates fixed in derivative contracts to hedge the obligations, it said. If that debt were valued at current market exchange rates, total state debt at the end of October would be 43.1 billion litai, or 38.4 percent of the 2012 projected GDP, according to the ministry.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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