Lithuania has experience the shortest GDP decline amongst the Baltic States

Posted by editor on 2/12/10 • Categorized as Baltic States, Economy Watch • Print This Post •

If data of the Lithuania’s Statistics Department is correct, technically Lithuania’s GDP decline stopped in the last quarter of 2009. Even though it showed a very moderate increase of 0.1 pct it is still a positive result. If this data is correct it would mean the Lithuanian GDP stopped declining. In this case, according to Lithuania’s Ministry of Economy, Lithuanian has suffered the shortest GDP decline amongst the Baltic States.

In a press release issued by the Ministry of Economy, the head of the Strategic Analysis Department Mindaugas Žilionis said, ‘Our economy is recovering faster than economies of our Baltic neighbours. Our recession, if we would evaluate using the technical criteria, lasted only three quarters, in comparison with the six quarters in Latvia and Estonia.’