Lithuania to slash 3.3 billion from budget

  • 2009-04-06
  • TBT Staff
VILNIUS - The Lithuanian government has decided to slash about 3.3 billion litas from this year's state budget.

After a government meeting, Prime Minister Andrius Kubilius said pension funds had been the most problematic cuts. He said that another round of cuts could come within the next few months.

"Another stage of revising the budget will probably take place in June,but the existing constructive manner of actions allows us to view thefuture with optimism," the prime minister said.

In compliance with the Maastricht criteria, annual state budget deficit cannot exceed 3% of the gross domestic product. The central government sector budget deficit totaled 3.2 percent last year.