The SEB bank on Thursday said Lithuania’s gross domestic product (GDP) should grow by 1.5% in 2024 and by 2.8% the following year, a projection that has remained unchanged since November 2023.
GDP growth
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The Bank of Lithuania projects the country’s economy to shrink by 0.2% this year. Projections have been upgraded by 0.4% compared with September’s forecast of 0.6% economic decline.
A total of 882.1 thousand people in Lithuania received at least one type of pension at the end of 2022, according to preliminary estimates from the State Data Agency.
Economists estimate that every week of the quarantine in Lithuania, introduced to slow the spread of the coronavirus, shrinks the country's annual GDP by 0.5 percent, Finance Minister Vilius Sapoka says.
International credit rating agency Fitch Ratings has upgraded Lithuania's credit ratings after six years.
Swedbank, one of the biggest financial groups in the Baltics, sticks to its forecast that Lithuania will post the highest 2019 GDP growth rate in the region.
Lithuania's economy has maintained a stable growth pace, analysts say after the country's statistics office, Statistics Lithuania, said earlier today that the country's GDP grew 3.6 percent over a quarter.
Lithuania's economic growth is set to slow down considerably next year compared with this year, the central bank said on Wednesday, raising its GDP growth forecast for 2019 but keeping the 2020 projection unchanged.
Lithuania's Finance Ministry is not changing its outlook and continues to estimate that the country's economy will slow next year, although it still will exceed the EU average.
The European Commission has lifted its forecast for Lithuania's GDP growth for this year and also expects the country's economy to expand faster next year.
