The first round of voting saw the two leftist parties, Labour and Social Democrats, gaining 26 and 19 percent, respectively.

They have said they are prepared to form a coalition together – potentially with a third party involved.

The conservative government gained 16 percent of the vote.

“I would describe it as a very strong result and a kind of moral victory,” Conservative Prime Minister Andrius Kubilius told Lithuanian radio.

Kubilius came to power in 2008, shortly after the global financial crisis took effect.
Despite Lithuania’s economic growth since 2010, the conservative government was blamed for the tough austerity drive they undertook, cutting into pensions and public wages.

Economic output dropped by 15 percent and unemployment rose to 18 percent, though it has since dropped down to 12.9 percent in Q2 2012.

The IMF praised Lithuania for its rebound which saw GDP grow to nearly six percent.

But analysts have said that it came too late to translate into a political revival.

The second round of voting will take place in two weeks time, and will determine the party composition of the government.