Lithuanian GDP to shrink 18.2% in 2009
Posted by editor on 9/12/09 • Categorized as Economy Watch • 
Print This Post
•
As Lithuania’s Ministry of Finance announced on 11 September the country’s GDP will decline by 18.2 percent in 2009 and will keep declining by another 4.3 percent in 2010. However, according to forecast Lithuania’s GDP will return to growth in 2011 by 4.5 percent and by 2.1 percent in 2012.
It forecasts that the country’s average annual inflation will be 3.6 percent this year but will fall in 2010 at -3 percent, -2.8 percent in 2011 and -0.5 percent in 2012.
The Ministry project fall in the average wages by 6.8 percent in 2009 from 2008 level, and by 8.7 percent in 2010 comparing with 2009.
Lithuanian business monthly Valstybė has calculated that the Baltic states since the beginning of the international financial crunch in 2007 until the second quarter in 2009 declined by 23 percent in Latvia, by 19.7 percent in Estonia and by 14.1 percent in Lithuania. Never the less, since Lithuania began its decline latter than its Baltic sisters, it might reach the ‘bottom’ also later than Latvia and Estonia. Valstybė used Eurostat data.
(No Ratings Yet)
Loading ...
