Financial accounts of Lithuania for the second quarter of 2009

  1 FINANCIAL ACCOUNTS OF LITHUANIA FOR THE SECOND QUARTER OF 2009   The growth rates of financial assets in all economic sectors other than central government declined further (a trend observed since the beginning of 2008) (Fig. 1). At the end of the second quarter of 2009, financial assets of Lithuanian economy made up LTL 310 billion. Its growth rate was negative (–3.1%), whereas in the second quarter of 2008, the growth rate made up 21.2 per cent. The structure of financial assets of the total economy slightly changed. Major investment positions looked as follows: loans accounted for 29.4 per cent, shares 26 per cent, deposits 16.4 per cent, and debt securities 9.3 per cent (in the past major investment position was in shares). The value of financial assets went down s significantly in recent years. Over the last four quarters the value of quoted shares decreased by 58.6 per cent, the value of Lithuanian investment funds declined by 25.7 per cent, and the value of investment funds of the rest of the world went down by 2.1 per cent. At the end of the quarter, Lithuania’s liabilities made up LTL 372.3 billion. Their growth rate was also negative (–1.1%), down from 22.2 per cent in the second quarter of 2008 (Fig. 2). In the quarter, the largest growth rate (42%) was observed in liabilities of central government. Relations between sectors of economy remained unchanged with households and non- financial corporations being the largest borrowers and monetary financial institutions (MFIs) remaining the largest investors. The rest of the world is a major finance and   2      OTHER MONETARY FINANCIAL INSTITUTIONS     At the end of the second quarter of 2009, financial assets of other MFIs 1 amounted to LTL 87.9 billion. Its growth rate slowed down to 0.06 per cent from 30.7 per cent in the second quarter of 2008 (Fig. 1). Loans accounted for 79.3 per cent of other MFIs’ a