GDP

The Bank of Lithuania on Friday released the balance of payments data for the third quarter of 2024, which shows that the surplus on the current account balance (CAB) declined by 20.0%, compared to the second quarter of 2024, and stood at EUR 498.6 million, or 2.4% of gross domestic product (GDP). T...

In 2023, Lithuania registered its gross domestic product (GDP) per capita expressed in purchasing power standards at 87% of the European Union’s (EU) average, the State Data Agency said on Friday, citing the flash estimates published by Eurostat.

On Friday, President Gitanas Nausėda met with Estonian President Alar Karis and Latvian President Edgars Rinkēvičs in Klaipėda for a regular annual meeting of the Presidents of the three Baltic States. The three leaders discussed the security situation in the region, support for Ukraine, energy inde...

Prime minister-designate Gintautas Paluckas has mentioned the need to revise the state budget for 2025 so that defence spending would stand at 3.5% of GDP.

At the end of the second quarter of 2024, the general government gross debt to GDP ratio in the euro area (EA20) stood at 88.1%, compared with 87.8% at the end of the first quarter of 2024. In the European Union, the ratio also increased from 81.3% to 81.5%, reports Eurostat, the EU’s statistical of...

Šiaulių bankas has published its latest economic forecast, projecting Lithuania’s real gross domestic product (GDP) to grow by 2.3% in 2024 due to the country’s low indebtedness, export diversification and timely EU investments.

The SEB bank has upgraded its forecast for Lithuania’s gross domestic product (GDP) growth for 2024 to 2.4% from an earlier projection of 1.5%. The bank’s economist Tadas Povilauskas says the update was prompted by a recovery in real household consumption and a stronger performance of the industrial...

Lithuania’s GDP should expand by 2.8% next year, after rising to 2.2% in the second half of this year, according to Swedbank Economic Outlook published on Tuesday. It will be the largest growth among the Baltic States, predicts Nerijus Mačiulis, the bank’s chief economist.

In the second quarter of 2024, seasonally adjusted GDP increased by 0.3% in both the euro area and the European Union (EU), compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the EU’s statistical office.

Higher defence spending would be agreed in a simpler way if the ruling coalition had implemented a tax reform, says MP Saulius SKvernelis, leader of opposition Democrats For Lithuania. The decision on defence funding must be taken by the current Seimas, he insists.

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.

In the euro area the government deficit to GDP ratio declined from 3.7% in 2022 to 3.6% in 2023, and in the European Union (EU) it increased from 3.4% to 3.5%, reports Eurostat, the EU’s statistical office.

Numerous Lithuanian companies and organisations have joined the initiative 4 procentai (4 Percent), calling on the politicians to urgently agree on 4% GDP defence spending and encouraging the public to support the move.

On Monday, Prime Minister Ingrida Šimonytė convened a meeting of political parties, representatives of business and trade unions to discuss prospects of defence funding and sustainable funding resources. Minister of National Defence Arvydas Anušauskas estimates that defence spending should be increa...

SEB Lithuania has published its latest economic projections on Tuesday. The bank upheld its previous forecast of 1.5% gross domestic product (GDP) growth for Lithuania in 2024 and 2.8% for 2025. Earlier projections were originally issued in November 2023.

Lithuania expects its economy to expand by 1.7% next year, following a soft landing in 2023, according to the latest update on the Finance Ministry’s Economic Development Scenario. The same growth was projected by the ministry in September.

Lithuania’s economy has been at about the same level for the second year in a row, i.e. it is neither expanding nor weakening. Next year it will exit the period of stagnation as a result of private consumption driven by real income growth and recovering demand in export markets. However, the full po...

President Gitanas Nausėda on Wednesday signed the 2024 state budget that was passed earlier in December by parliament.

The Bank of Lithuania forecasts that the country’s economy will experience a 0.6% recession in 2023. Projections for this year have been upgraded from a 1.3% recession forecast in June.

As the European Union is considering a new migration and asylum policy, including a solidarity mechanism to relocate migrants, Prime Minister Ingrida Šimonytė thinks Lithuania may agree with a migrant quota instead of paying EUR 3 million annually.