VILNIUS — Lithuania will see a quick climb out of recession and could adopt the euro in 2014, the prime minister said after new statistical data came out.

The country has seen its second worst economic crisis since independence over the last two years, but managed to survive without needing a full-on bailout like Latvia or Greece. Gross domestic product dropped 15 percent in 2009, one of the largest declines in Europe and the world.

“This quarter’s data compared with the [private_supervisor]previous quarter shows that we are rising pretty quickly from the recession,” Prime Minister Andrius Kubilius told Reuters in a TV interview this week.

Kubilius has ventured to say that the country could bring its budget deficit down to 3 percent of GDP by 2012. A deficit of 3 percent of less is required if the country wants to adopt the common European currency, the euro.

New data from Statistics Lithuania shows that in 2009, the government budget deficit ran at 8.9 percent.

“A budget deficit of 8 percent is expected in 2010. To reduce an additional 5 percent is not something extraordinary. We are quite optimistic,” Kubilius said even though his coalition no longer holds a majority in the Seimas.

The government has the support of President Dalia Grybauskaitė.

“I as president strongly support the government’s key objectives to stabilize the economy and stabilize the financial situation and carry out deep reforms in the social, educational and health care sectors,“ Grybauskaitė told Reuters. [/private_supervisor] [private_subscription 1 month]previous quarter shows that we are rising pretty quickly from the recession,” Prime Minister Andrius Kubilius told Reuters in a TV interview this week.

Kubilius has ventured to say that the country could bring its budget deficit down to 3 percent of GDP by 2012. A deficit of 3 percent of less is required if the country wants to adopt the common European currency, the euro.

New data from Statistics Lithuania shows that in 2009, the government budget deficit ran at 8.9 percent.

“A budget deficit of 8 percent is expected in 2010. To reduce an additional 5 percent is not something extraordinary. We are quite optimistic,” Kubilius said even though his coalition no longer holds a majority in the Seimas.

The government has the support of President Dalia Grybauskaitė.

“I as president strongly support the government’s key objectives to stabilize the economy and stabilize the financial situation and carry out deep reforms in the social, educational and health care sectors,“ Grybauskaitė told Reuters. [/private_subscription 1 month] [private_subscription 4 months]previous quarter shows that we are rising pretty quickly from the recession,” Prime Minister Andrius Kubilius told Reuters in a TV interview this week.

Kubilius has ventured to say that the country could bring its budget deficit down to 3 percent of GDP by 2012. A deficit of 3 percent of less is required if the country wants to adopt the common European currency, the euro.

New data from Statistics Lithuania shows that in 2009, the government budget deficit ran at 8.9 percent.

“A budget deficit of 8 percent is expected in 2010. To reduce an additional 5 percent is not something extraordinary. We are quite optimistic,” Kubilius said even though his coalition no longer holds a majority in the Seimas.

The government has the support of President Dalia Grybauskaitė.

“I as president strongly support the government’s key objectives to stabilize the economy and stabilize the financial situation and carry out deep reforms in the social, educational and health care sectors,“ Grybauskaitė told Reuters. [/private_subscription 4 months] [private_subscription 1 year]previous quarter shows that we are rising pretty quickly from the recession,” Prime Minister Andrius Kubilius told Reuters in a TV interview this week.

Kubilius has ventured to say that the country could bring its budget deficit down to 3 percent of GDP by 2012. A deficit of 3 percent of less is required if the country wants to adopt the common European currency, the euro.

New data from Statistics Lithuania shows that in 2009, the government budget deficit ran at 8.9 percent.

“A budget deficit of 8 percent is expected in 2010. To reduce an additional 5 percent is not something extraordinary. We are quite optimistic,” Kubilius said even though his coalition no longer holds a majority in the Seimas.

The government has the support of President Dalia Grybauskaitė.

“I as president strongly support the government’s key objectives to stabilize the economy and stabilize the financial situation and carry out deep reforms in the social, educational and health care sectors,“ Grybauskaitė told Reuters. [/private_subscription 1 year]

— This is a paid article. To subscribe or extend your subscription, click here.