The Lithuanian economy grew at its slowest pace since 2010 last year at 1.6%, but rising business confidence and increasing orders should drive higher economic growth in the year ahead.
Lithuanian economy
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With falling oil prices, oil has started becoming a burden on nations that produce it but oil importers like Lithuania have been prospering from the price drop.
The Ministry of Education is proposing to increase state financed positions at universities for information technology studies by 50% in response to increasing demand for skilled IT professionals in Lithuania's labour market.
The European Commission is predicting that the Lithuanian economy will grow by 2.9% this year following a lacklustre performance in 2015.
After riding themselves of dependence on unpredictable markets in Russia Lithuanian exporters are facing another potential crisis in Poland, according to Swedbank economist Nerijus Mačiulis.
“The beginning of 2016 was one of the worst years in history for raw material and stock prices,” said Swedbank Chief Economist Nerijus Mačiulis. On Tuesday, he presented his projections for economic growth in Lithuania, and the prospects for exports and the international economy.