| Abstract [eng] |
In Lithuania, like in other European countries where dynamic processes of economy reorganization are proceeding, there is a constant impact with lack of funds to finance these processes. Objectively, when limited resources of finance funds are in countries, lending abroad has a huge influence on strengthening their financial systems and providing them with necessary funds. Policy of national debt management is inseparable part from national economy. Taking about national debt, one constantly confronts to budget deficit. The country is forced to finance formed budget deficit with loans. All countries of transitional economy need huge investments to modernize economy. The proportion of national stockpiling and gross domestic product (GDP) at that time is not high; therefore, the country does not have enough own resources for investments. Therefore, such countries, including Lithuania, have to borrow, and that is very normal. The country in credit relations participates like their subject. Usually the country takes a loan and guarantees for bigger sums than lends. The most important reason of this condition is that though national credit raised funds change taxes and funds collected in other ways. That is the main reason of formed national debt. Local finance resources are the most suitable country’s finance resources, especially if there resources are denominated by national currency. Inland debt is a very important factor that presents the level of country’s economical development. However, if financial demands are higher than it is expected to save funds inside the country, the country has to supplement its inland resources with foreign finance resources. It is important to analyse this theme as managing national debt and predicting Lithuania’s loan perspective it is necessary to know how national debt has changed and what reasons have influenced these changes. National debt, its changes and their management are analysed in this paper. Object of the paper: Lithuanian national debt and its management. Aim of the paper: to value theoretical reasons of national debt and Lithuania’s loan changes and perspective. Tasks of the paper: - To analyse theoretical aspects of national debt and its management. - To analyse EU raised criteria for national debt. - To evaluate Lithuania’s national debt’s changing tendencies in the period of 1993-2006. - To evaluate Lithuania’s loan perspective. - To formulate conclusions. Research methods that are used in this paper: - Analysis of literature; - Logical analysis; - Data structure method; - Vertical and horizontal analyses; - Graphical method. The paper consists of 3 main parts. In the first part of the paper, theoretical aspects of national debt and its management are analysed. In the second part of the paper tendencies of national debt in the period of 1993-2006 are valuated. In the third part of the paper Lithuania’s loan politic in the contests of European Union is valuated. The paper consists of 70 pages, 6 tables, 21 picture and 8 appendixes are enclosed. 28 sources of literature are used. |
