Seimas Adopts 2011 State Budget
Today the Parliament of Lithuania approved with 73 votes to 56 the new state budget for 2011. Seven MPs abstained during the voting.The planned 2011 national budget revenue will amount to LTL20.008 billion (excluding EU funds) and LTL 26.930 billion (with the EU funds and other international support).
Budget expenditure will stand at LTL22.468 billion (excl. EU funds) and LTL29.344 billion (with EU funds).
The state budget deficit next year should reach LTL2.4 billion and the public finance deficit – 5.8% of GDP.
Taxes will provide nearly 75% of all budget revenue (excl. EU funds) and will generate LTL15.008 billion.
LTL1.407 billion is expected to come from the personal income tax and LTL1.178 billion from the corporate tax. Also, the government expects to collect LTL8.259 billion of value added tax and LTL3.576 billion of excise duties.
Since 2002, the Lithuanian litas is pegged to the euro at the rate of 3.4528 to 1.
The President has yet to sign the adopted 2011 state budget.
Source: delfi.lt, BNS, lrytas.lt
