GDP

After the International Monetary Fund has warned that Lithuania this year is facing serious challenges in public finances, an economist says that meeting this year's budget targets will not be easy.

The International Monetary Fund (IMF) has revised down its forecast for Lithuania’s economic growth this year to 2.8 percent, from 3.3 percent projected last October.

Prime Minister Algirdas Butkevičius says that the European Union Structural Funds programming period for 2014-2020 will most likely be the last one for Lithuania, therefore funds should be allocated to improve economic and business conditions in the country's regions.

After evaluating Lithuania's economic situation and the impact of external factors on its economic growth tendencies, the Ministry of Finance has revised main macroeconomic projections for 2015-2017 and prepared projections for 2018.

The Bank of Lithuania forecasts that the domestic demand-driven Lithuanian economy will continue growing, albeit at a slower pace than previously expected. The worse outlook for the Russian economy, determined by persisting geopolitical tensions and falling oil prices, will have an essential influen...

Lithuania's authorities should postpone plans for a minimum wage hike after the central bank on Friday cut its GDP growth forecast for this year, a senior expert at the Lithuanian Free Market Institute (LLRI) said.

"We are pleased that the revised GDP for 2014 compared to 2013 increased by 3 percent rather than by 2.9 percent as it was announced in the preliminary estimates. The higher growth was driven by the growth of the construction industry, also, the Government's decisions regarding housing renovation un...

According to the calculations carried out by Danske Bank, falling import in Russia will cost Lithuanian economy EUR 0.5 billion in nominal value in 2015, i.e. more than projected earlier. Therefore, Danske Bank has reduced Lithuania's GDP growth estimate from 2.7 to 2.5 percent. In 2016 GDP growth s...

Due to the current geopolitical tensions and crisis, Lithuania's exports to the region of the Commonwealth of Independent States (CIS) last year declined by EUR 158 million, however, at the same time exports to new markets grew by EUR 176 million.

Lithuania's economy is expected to maintain growth of 3.0 percent in 2015, despite a fall in exports to Russia. Domestic demand is set to remain the main growth engine, as employment and real disposable incomes rise. Inflation stays low and public finances improve slightly, the European Commission s...

Lithuania has risen to the 19th position among 28 NATO member countries in terms of defence spending after increasing its defence budget.

According to the flash estimate, annual GDP growth slowed to 2.4% in the fourth quarter of last year, slightly below our expectations. Previous quarter growth remained unchanged at 2.7%.

In 2014, Lithuania's gross domestic product (GDP), estimated based on available statistical data and econometric models, amounted to EUR 36,270.8 million (LTL 125,236 million) at current prices. Compared to 2014, the real GDP change, seasonally and working day adjusted, stood at 2.9 percent, Statist...

Continuing geopolitical tensions in Eastern Europe will continue to affect Lithuania's economy in 2015, says Nerijus Mačiulis, chief economist at Swedbank.

“The blunt reality is that there will be dwindling appetite and patience in the US Congress—and in the American body politic writ large—to expend increasingly precious funds on behalf of nations that are apparently unwilling to devote the necessary resources or make the necessary changes to be serio...

Professional services firm EY (Ernst&Young) forecasts that Lithuania's GDP will grow 3.6 percent in 2015. The adoption of the euro, reduced financial risks and cheaper borrowing will allow the Lithuanian economy to grow three times faster than the euro area average, whereas in two years economic gro...

According to the Ministry of Finance of Lithuania, the central government's debt in November stood at 39.7 percent of Lithuania's total projected gross domestic product (GDP) of 2014, LTL 49.673 billion (EUR 14.39 billion).

In 2013, the total added value of inbound and domestic tourism in Lithuania accounted for LTL 3.2 billion (EUR 927 million) or 2.96 percent of the country's GDP.

Growing consumption and investment encourage consistent growth of Lithuania's economy; however, a poorer outlook for the country's major foreign trade partners, as well as gradually slowing development of domestic demand led to more cautious GDP growth projections for next year. The Bank of Lithuani...

Next year Lithuania's economy should grow 2.7 percent, a lower indicator than projected by the Finance Ministry but more than the majority of other European countries, says the Economist Intelligence Unit of the British business daily, The Economist.