Republic of Lithuania: Selected Issues

Lithuania has undertaken significant fiscal adjustment to date. It implemented fiscal measures amounting to some 17 percent of GDP during 2009–12, about half of which were frontloaded in 2009. This has brought the fiscal deficit down from a peak of 9.4 percent of GDP in 2009 to an estimated 3 percent of GDP in 2012. The country's public debt is estimated at around 40 percent of GDP as of end-2012, up from 15.5 percent of GDP at the end of 2008.