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.
Even the €8 increase in the average pension will not help pensioners in Lithuania, who receive one of the most frugal pensions in Europe. President Dalia Grybauskaitė is encouraging lawmakers to index pensions, which would make them increase together with growing average wages in the nation, and the prime minister, Algirdas Butkevičius, believes that indexing pensions would make them grow by up to 6 or 7 percent.