LT: Fitch revises Lithuanian outlook to positive.

By bne IntelliNews May 5, 2011
Rating agency Fitch Ratings revised Lithuanian credit outlook from stable to positive amid improving public finances and economic recovery. Michele Napolitano, Fitch Ratings analyst, indicated that while debt is still an issue, continuing fiscal consolidation, and structural reforms may allow the company to improve the ratings in the near future. Fitch said to be confident about the governments plan to reduce deficit down to 5.3% in 2011. The agency forecasts that Lithuanian GDP will grow by 3.8% y/y in 2011, and 4% y/y in 2012. PM Kubilius indicated that the increase in the outlook is a positive sign, expressing support for the current governments actions and policies.

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