Bank of Lithuania: In Q1 2016, a EUR 37.1 million current account balance surplus was recorded
OREANDA-NEWS. In Q1 2016, a EUR 37.1 million current account balance surplus was recorded. It formed as a result of the increasing surpluses on the balances of services and secondary income, which offset the deficits of the primary income and foreign trade balances. The negative EUR 796.7 million financial account balance in Q1 2016 was due liabilities to non-residents increasing more than claims.
At the end of Q1 2016, the negative international investment position balance (EUR 17.6 billion) showed that Lithuania is a debtor vis-a-vis the rest of the world. In this period, the gross debt amounted to EUR 30.3 billion, or 81.1 per cent of GDP, while the net debt — EUR 11.1 billion, or 29.7 per cent of GDP.