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Public debt and deficit
2007 10 19

The General Government deficit and debt in 2006

In 2006, the General government deficit made up LTL 483 million, i.e., 0.6 per cent of GDP (against the forecast of 1.2 per cent). In 2006 the General government income totalled LTL 27396.9 million, while expenditure was LTL 27879.9 million. The central government deficit equalled LTL 755.3 million and accounted for 0.9 per cent of GDP, that of the local government LTL 288.5 million (0.4 per cent of GDP). Meanwhile, income of social security funds outpaced expenditure and the surplus totalled LTL 560.8 million, which made up 0.7 per cent of GDP. 

The General government debt at nominal value in 2006 totalled LTL 14938.5 million or 18.2 per cent of GDP (against the forecast of 19.4 per cent). Based on Statistics Lithuania data, the General government debt over 2006 grew by LTL 1662.4 million. Although over the year the government debt increased, its ratio against GDP decreased (in 2005 this ratio was 18.6 per cent). 

At the end of 2006 the General government debt consisted of: central government debt – LTL 14235.9 million, local government debt – LTL 730.5 million and social security funds’ debt - LTL 147.5 million. 

The bulk of the General government debt constituted of outstanding T-bills – LTL 13577.3 million and outstanding loans at the end of the year made up LTL 1361.2 million. 

Total General government long-term debt in 2006 grew by LTL 2963.9 million and at the end of the year equalled LTL 14592.6 million (97.7 per cent of total debt), while the short-term debt contracted by LTL 1067 million and as of 31 December stood at LTL 345.9 million (2.3 per cent). 

The bulk share of borrowed assets was used to settle liabilities of the government debt and social security funds as well as to balance cash flows of the said funds and to finance the public investment. 

The General government covers state and municipal budgets, social security funds (Social Security Fund, the Health Insurance Fund and Employment Fund) as well as extra-budgetary Privatization, Guarantee, Reserve (Stabilization), Decomposition of the Ignalina NPP and the 1990 Blocade funds, the Saving restitution account, public health institutions, State company Turto fondas and AB Turto bankas. 

General government deficit and debt 

 

ESA’95 codes

In LTL mill.

2003

2004

2005

2006

Net borrowing (-)/ net lending (+)

EDP
B.9

 

 

 

 

General government

S.13

-727,6

-963,5

-362

-483

% of GDP

 

-1,3

-1,5

-0,5

-0,6

   - central government

S.1311

-989,5

-1473,5

-741,9

-755,3

   - local government

S.1313

-20,5

91,8

-36,9

-288,5

   - social security funds

S.1314

282,4

418,2

416,8

560,8

General government consolidated gross debt
Level at nominal value outstanding at end of year

 

12039,1

12155,3

13276,1

14938,5

% of GDP

 

21,2

19,4

18,6

18,2

   Currency and deposit

AF.2

617,4

327,6

234,6

0

   Securities other than shares, exc. financial derivatives

 

AF.33

 

8501,2

 

9601,1

 

11231,3

 

13577,3

      Short-term

AF.331

529,2

286,7

904,5

309,6

      Long-term

AF.332

7972

9314,4

10326,8

13267,7

   Loans

AF.4

2920,5

2226,6

1810,2

1361,2

      Short-term

AF.41

293,6

386,8

508,4

36,3

      Long-term

AF.42

2626,9

1839,8

1301,8

1324,9

 

Director General                         Algirdas Semeta 

Contact: Irena Tvarijonaviciute
Head National Accounts Division
Tel. +370 5 236 48 37
E-mail irena.tvarijonaviciute@stat.gov.lt

www.stat.gov.lt  

© Department of Statistics to the Government of the Republic of Lithuania (Statistics Lithuania)
Reproduction and quoting are authorised provided the source is acknowledged.

For more information on this issue. please see the website of Statistics Lithuania
http://www.stat.gov.lt/en/pages/view/?id=1379

Document updated: 2007 10 19

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