Lietuva in brief

  • 2012-12-20

The Ministry of Finance has presented the government a revised draft budget for 2013, which is composed of the state budget and municipal budgets, reports ELTA. The draft document was revised taking into account updated macroeconomic forecasts  and the National Audit Office. Compared to the previous draft budget, the budget revenue falls by 400,000 (116,000 euros). In total, state budget revenue (excluding EU funds and others) will account for 18.2 billion litas, and including EU funds and others it will stand at 25.7 billion litas. In 2013, state budget allocations will exceed revenue by 740 million litas, the deficit will account for 0.6 percent of GDP (on a cash basis), while the projected public finance deficit next year should stand at 2.5 percent of GDP. The 2012 public finance deficit is projected not to exceed 3 percent of GDP.

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Prime Minister Algirdas Butkevicius says that no funds were allocated for the construction of part B of the Palace of the Grand Dukes of Lithuania, reports ELTA. Butkevicius says that the budget only provisions funds for the completion of part A, which must be finished by the start of Lithuania’s Presidency of the European Union. “As far as I know, [the money] is provisioned to finish the first phase. I have been informed that there is not enough money to arrange the inner courtyard, but there were no talks about the second phase,” said Butkevicius after the Cabinet sitting. The PM says that lawyers will examine how such a situation has occurred when authority Vilniaus Pilys announced a tender for the construction work for part B.

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All real estate in Lithuania is worth 245.6 billion litas (71.2 billion euros), reports ELTA. The state enterprise Center of Registers carries out an annual evaluation of the country’s real property. This year, a common market value of all real property in Lithuania dropped by 616.5 million litas or by 0.25 percent. The evaluation revealed that a total of 851,000 apartments evaluated in the country are worth around 74.9 billion litas. All buildings (nearly 2.3 million) are worth 72.3 billion litas. Lithuania’s Land Fund, which now consists of 2.1 million land lots, is worth 60.7 billion litas or by 6.8 percent less than after last year’s evaluation.