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Žaneta Karazijienė

Abstract

One of the most important factors in the macroeconomic system of every country is public debt. This is due to the processes of debt forming and its servicing has a significant influence to the financial system, the investment climate, the consumption structure and the development of the international corporation. The most common reason of the public debt and its increase is the existing policy which cannot ensure a steady balance of the state revenue and expenditure. A variety of theoretical concepts of the public debt management, scientists’ attitude towards the public debt, critical indicators (selected according to indicators defined in the Maastricht Treaty and in accordance with the International Monetary Fund and the World Bank requirements) of the acceptability assessment of the public debt are analysed in this article. On the basis of identified critical indicators of the public debt acceptability, the critical analysis of Lithuanian borrowing tendencies and assessment of indicators is performed. The results revealed that Lithuania is often provided for non-compliance with the criteria approved by the Maastricht Treaty or the International Monetary Fund and the World Bank. The mathematical modelling of the Lithuanian public debt projections indicated that a tendency of a positive downward on the Lithuanian public debt share of GDP is likely to happen in the future.

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Section
Implementation of Economic and Social Policy