Lithuanian SMEs focussing on investment in domestic markets
LT Daily, media brief
Thursday, January 28, 2016
Instead of strengthening their positions abroad or looking for new markets, small and medium sized Lithuanian companies are this year planning to increase investment in expansion in domestic markets, a survey commissioned by SEB Bank shows.
Lithuania's economy will grow by 2.8% in 2015 despite a range of headwinds, driven on by increased consumer spending, low oil prices and a recovering Eurozone, according to SEB Bank’s latest projections.
Increased household consumption and investment are increasingly driving economic growth in Lithuania - without them the Lithuanian economy could have fallen into recession in 2015, according to SEB bank economists.
According to Gitanas Nausėda, the advisor of the president of SEB Bank, 2015 wasn't a very special year for Lithuania, though, considering Lithuania's GDP growth, it would be wrong to call it a stagnant year as well.
According to Swedbank, Lithuania's small businesses often refer to banks seeking to borrow working capital. In the third quarter of 2014 Swedbank issued loans to small businesses for LTL 100 million (EUR 29 million).