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Lithuanian Central Government Budget Gaps Narrows to 1.5% of GDP

Lithuania’s central government budget deficit totaled 1.5 percent of gross domestic product in the first four months of the year, the Finance Ministry said.

The shortfall, calculated on a cash basis, narrowed from 1.9 percent of GDP in the same four-month period of last year, 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’s government is seeking to narrow the fiscal deficit to 3 percent of GDP this year from 5.5 percent in 2011.

Government debt rose to 40.5 percent of GDP at the end of April from 39.1 percent in March, the ministry said in a separate statement. Debt widened after the government sold 400 million euros ($496.6 million) in bonds in April, it said.

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