President Gitanas Nausėda says the single currency of the European Union (EU) provides stability in financially turbulent times and has contributed significantly to Lithuania’s economic growth over the past decade.
Economic growth
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The Lithuanian Confederation of Industrialists (LPK) proposes to politicians to halt tax changes until 2026, urging stability to secure sustainable and consistent economic growth.The Social Democratic Party (LSDP), leader in polls, has vowed to implement tax reform in a year.
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.
The coronavirus pandemic has shown that policymakers will sacrifice business activity if it’s necessary for public safety. Climate activists have warned for years that society’s quest for growth threatens our planet, and some economists encourage using different metrics to judge an economy’s success...
With global economic growth continuing to weaken, the pace of economic development in Lithuania will also decrease. The Bank of Lithuania projects that after a 3.7% growth of the country’s economy in 2019, next year it will increase by 2.5%. The same projection was made in September of this year.
Russia has exited recession and now all the Baltic Sea region (BSR) economies are expanding, but growth is expected to be modest. The global rise of populism and anti-establishment moods, although promising fiscal expansion that may boost short-term growth, builds up risks of protectionism with a ne...
Lithuania is making the transition from to a developed market-economy capitalism but it is creating negative side- effects, said Robertas Dargis, president of the Lithuanian Confederation of Industrialists.
It will take three to four years for Lithuania's economy to reach where Estonia is today, says Rokas Grajauskas, economist for Danske Bank.
Lithuania’s Ministry of Finance has significantly revised down its forecasts for GDP growth in 2016 to 2.5% for the year, down from the 3.2% growth predicted last year.
If not for the impact of the economic crisis in Russia, Lithuania's economy would have grown by 4.2% rather than 1.6% last year, according to Nordea bank economists.
Lithuanian economists have criticized the government's "inaction", saying that the country's economy have grown despite rather than because of its economic policies. However, challenges loom ahead.
Lithuania's economic growth was lower than initially estimated in the final quarter of 2015, the latest figures from Statistics Lithuania showed on Monday.
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.
Demographics will soon be the biggest problem facing Lithuanian society and industry, leading economists have warned, urging Lithuanian politicians to address the massive emigration that has been draining the Lithuanian population for over a decade now.
The European Commission is predicting that the Lithuanian economy will grow by 2.9% this year following a lacklustre performance in 2015.
Maxima Group, the Lithuanian holding group that owns the Maxima supermarket chain in the Baltic states, has reported a 3.6% growth turnover in 2015 to €2.677 billion.
