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.
© DELFI / Orestas Gurevičius

Growing demand in Lithuanian and foreign markets have led to a higher level of confidence about the year ahead among companies with indicators showing increasing confidence in all sectors except construction, reports TV3.

Recent economic indicators show growing momentum in the economy, with projections of a GDP growth rate of 2.6% in the first quarter of 2016.

With Lithuania’s labour market tightening, wages rising, and inflation likely to remain low businesses focused on the domestic economy should perform well as domestic consumption of goods and services increases.

The pace of growth in the manufacturing industry is expected to rise with a increasing number of orders requiring investment in new equipment and employees.

Over 10% of manufacturing companies are planning to increase their number of their employees, according to the latest surveys. Growing exports are also projected to support stronger economic growth in Lithuania in 2016.

balsas.tv3.lt

Police busted armed gang of 22 persons in international operation

Lithuania's police said on Wednesday it was involved in an international operation which led to...

Meilutyte retires from professional swimming

Lithuania's Olympic champion Ruta Meilutyte announced her decision on Wednesday to end her...

Former Estonian president shares his insights why US is behind in digital breakthrough


Colorful and always with a smile on his face. This is how many people remember a former Estonian...

Planes were too close during Marijampole incident but there was no real threat

Several planes got too close over Lithuania's southern city of Marijampole in April but there was no...

President: Lithuania is lucky to have 'worthy' candidates in runoff (1)

Lithuania is fortunate to have two "worthy" candidates competing with each other to be elected...