Financial accounts of Lithuania for the first quarter of 2009

  1 FINANCIAL ACCOUNTS OF LITHUANIA FOR THE FIRST QUARTER OF 2009     At the end of the first quarter of 2009, financial assets of Lithuanian economy made up LTL 326.7 billion. Its growth rate decelerated to 0.9 per cent from 22.9 per cent in the first quarter of 2008. A decline in growth rate of financial assets has further continued since the t beginning of 2008 in all economic sectors but central government (Fig. 1). The structure of financial assets of the total economy remained broadly unchanged. Major investment positions were shares – 29.8 per cent, and debt securities – 8.2 per cent. The value of financial assets went down significantly in recent years. Over the last four quarters the value of quoted shares decreased by 64.6 per cent, the value of Lithuanian investment funds declined by 26.9 per cent, and the value of investment funds of the rest of the world fell down by 2.9 per cent. At the end of the first quarter of 2009, Lithuania’s liabilities made up LTL 388.9 billion. Their growth rate was 3.4 per cent, whereas in the first quarter of 2008 it was 23.8 per cent (Fig. 2). The largest growth rate of liabilities was registered in central government Relationship between sectors of economy remained unchanged. Households and non- financial corporations retained the position of the largest borrowers, while MFIs remained the largest investors. Rest of the world plays an important role in the Lithuanian economy, as they provide significant financing and investments. In the   2      OTHER MONETARY FINANCIAL INSTITUTIONS     At the end of the first quarter of 2009, financial assets of other MFIs amounted to LTL 89.3 billion. Its growth rate slowed down to 6.8 per cent from 32.5 per cent in the first quarter of 2008. However, its was the largest if compared r to other sectors of economy (Fig. 1). Loans accounted for 79.7 per cent of other MFIs’ assets with their g