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The Seimas has approved the state and municipal budget for 2012. A total of 72 MPs voted in favour, 45 were against, and 3 abstained from voting on the law endorsing the financial indicators for the state and municipal budget for the year 2012.

The Law sets the state budget revenue at LTL 17.924 billion and the expenditure at LTL 18.643 billion (both amounts exclude the EU and other international financial support).

It is envisaged that, in 2012, the revenue to national budget, which covers both the state and municipal budgets (excluding the EU support) will amount to approx. LTL 20.981 billion and the planned national budget allocations jointly with the EU and other international financial support funds will account to LTL 28.112 billion. The national expenditure (EU support excluded) will reach LTL 21.700 billion and the planned national budget allocations together with the EU funding will account to LTL 28.831 billion in 2012. The planned support from the EU and other international financial sources will amount to LTL 7.131 billion.

State budget deficit will reach LTL 719 million, which is a 3.6-fold decrease on the budget deficit planned for 2011. The envisaged public finance deficit in 2012 was set at 3 % of GDP. The Government net borrowing threshold was increased to LTL 9.435 billion for 2012.

The highest income, totalling LTL 8.9292 billion, is envisaged to come from the value added tax in 2012.

The breakdown of appropriations per field: LTL 3.2156 billion to social security, LTL 4.3843 billion to education, LTL 1.9305 billion to healthcare, LTL 6.8465 billion to economy,  LTL 2.209  billion to public order and protection of society, LTL 1.060 billion to defence, LTL 768.7 million to environment protection.

As noted in the explanatory note to the amended draft, the planned figures under the national budget are based on the central national economic development scenario for 2012 renewed by the Ministry of Finance in November, where GDP growth from 4.7%, as forecast in September, was decreased to 2.5 %.

Seimas of the Republic of Lithuania