aA
Lithuania's economy is coping very well with challenges induced by the coronavirus crisis, and the latest figures are a cause for cautious optimism in the second half of this year, Finance Minister Vilius Sapoka says.
Naujosios Akmenės cementas
Naujosios Akmenės cementas
© DELFI / Laimonas Jankauskas

"Lithuania's economy has been surprisingly well withstanding challenges caused by the COVID-19 pandemic so far. Despite a strong shock to the economy, we've been seeing growing economic activity since May already. A timely fiscal response, including measures related to residential income, jobs and maintaining business liquidity, has helped to amortize losses the economy suffered in April," Sapoka was quoted as saying in a statement issued by the Finance Ministry

It warned, however, that it's too soon to state that the positive result will become a tendency in the second half. The recent spike in coronavirus cases and growing uncertainty over the future might again negatively affect business and consumer expectations.

The latest figures showed today that Lithuania's economy contracted 3.7 percent to 11.5 billion euros year-on-year, and shrank by 5.1 percent on a quarterly basis.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Skvernelis: no plans to put economy on hold if 2nd coronavirus wave comes (2)

The whole economy or its individual sectors in Lithuania will not be put on hold if a second...

Lithuania plans to establish anti-money laundering competence center

Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic...

Minister: direct EU payments to farmers should be capped at EUR 100,000

Direct EU payments to Lithuanian farmer s in 2021-2027 should be capped at 100,000 euros,...

To start or not to start fintech company during recession?

Microsoft, IBM, HP, Disney, FedEx, 3M. What do these companies have in common? They started their...

Lithuania asks Slovenia to hand over detained businessman Kucinskas

Lithuania's Prosecutor General's Office has asked Slovenia to hand over Vidmantas Kucinskas , the...

Top news

Lithuania extends border controls at air, sea ports until mid-September

Lithuania extended on Wednesday border controls at international airports and the seaport of...

Skvernelis: Lithuanian bodies ready to respond to tensions on border with Belarus

Lithuania's authorities are ready to respond to possible tensions on the border with Belarus and are...

Belarusians allowed unrestricted entry to Belarusians 'for humanitarian purposes'

Lithuania is lifting coronavirus travel restrictions for foreign students and investors, and people...

Analyst: Tikhanovskaya fled to Vilnius, a logical choice, for safety reasons

Svetlana Tikhanovskaya , the leading opposition candidate in Belarus' presidential election, fled her...

Party leaders open up on how Lithuania should respond to events in Belarus

A wave of bloody protests was set off by the Belarusian government announcement that President...

|Maža didelių žinių kaina