published: 2018-11-02 14:13
Photo: Judith Grigelight (V)
The European Bank for Reconstruction and Development (EBRD) has improved Lithuania's economic growth forecast, but remains the lowest in the Baltic region. In the case of Latvia, the fastest growth in gross domestic product (GDP) is expected.
According to the EBRD, the Lithuanian economy had to grow by 3.4%, 0.2 percentage points more than in May. Latvia's GDP growth forecast grew by 0.4 points to 3.9%, Estonia dropped by 0.2 points to 3.6%.
In the second half of the year the GDP of Lithuania's economy should be reduced to 2.8%, Latvia to 3.5% and Estonia to 3%. I do not change EBRD forecasts.
According to the EBRD analyst, it is expected to have a negative impact on Lithuania's growth in demand in the country's major export markets. Population of the working-age population will have an increasing negative impact on business, which can encourage companies to delay their investment decisions without omitting workers, and it is not easy to replace automated solutions.
This year, shorter use of the EU fund may increase the growth of the enterprise's investment. EBRD refers to the rapid growth rate of consumption as the share of subsistence savings should be increased.
According to the latest forecast, the economy of Central Europe and the Baltic region grew by 4.3% in the second half of the year, by 3.5%. The fastest growth in the region is 4.7% for Poland and 4% for Slovakia.
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