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Bloomberg
IMF Says Lithuania Needs Measures to Meet 2012 Budget Target
By Milda Seputyte
Oct. 10 (Bloomberg) -- Lithuania needs to implement spending and revenue measures equal to 1.25 percent of economic output to meet its 2012 budget-deficit target, the International Monetary Fund said.
Gross domestic product is slowing because of weaker export demand in the euro region, and “given the upside risks to the fiscal deficit, a contingency plan consisting of further measures should be prepared,” James Morsink, the IMF’s mission chief, told reporters in Vilnius today. The Washington-based lender expects Lithuania’s economy to expand 3.5 percent next year.
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