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Lithuanian and Latvian economies are growing at a similar pace, but while Lithuanian entrepreneurs exhibit cautious optimism, Latvians are rather pessimistic for the second year in a row, shows a business sentiment and confidence index survey by Citadele Bank.

According to the latest survey, the Latvian entrepreneurs‘ sentiment and confidence index in March this year was 49.45 points, just below the 50-point mark indicating optimism. The Lithuanian score was 51.15 points.

“We see the biggest differences in the construction sector, where Latvian entrepreneurs are significantly more pessimistic than Lithuanian counterparts, despite the fact that construction volumes declined both in Latvia and Lithuania last quarter. Lithuanian developers' optimism is probably sustained by stable demand from the private sector, as well as more rapid absorption of the European funds from the new financial perspective,” said Latvian Citadele Bank economist Mārtiņš Āboliņš.

Companies working in the regions around each country's capital city see most prospects. Vilnius regional business confidence index is 53.95 points, Riga's 51,60 points.

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