International Internet Magazine. Baltic States news & analytics
Friday, 07.03.2014, 20:41
The European Central Bank on Thursday raised slightly its growth forecast for the euro area for 2014, but trimmed its forecast for inflation, informs LETA/AFP.
Keyword tags: Analytics, Economics, EU – Baltic States, Financial Services, Inflation
Lithuania's Prime Minister Algirdas Butkevicius presented the objectives and priorities of the Government for 2014 in the Lithuania's Economic Conference held for the sixth time, informs LETA/ELTA.
Latvia recorded 3.6% economic growth in the last quarter of 2013 as compared with the fourth quarter of 2012, which was the second-fastest growth in all of the European Union member states for which data are available, according to the EU statistical office Eurostat release. Romania registered the fastest economic growth of 5.1%, whereas Latvian and Lithuanian economies increased by 3.6%, writes LETA.
According to Newsec – the Full Service Property House in Northern Europe – 2013 was a real RESTART for the Baltics. Volume of property investment transactions reached precrisis level and is expected to beat the record in 2014 already. Spectacularly recovering demand forces new developments in both commercial and residential sectors.
As the investors are setting the capital back from Russia and are selling the shares as well as the local currency, we can see the slowdown of the growth of the economy for several quarters in a row. According to the Danske Bank's analysts in Lithuania, this could take away up to 1% of the growth of the country's gross domestic product (GDP) in 2014, informs LETA/ELTA.
The International Monetary Fund (IMF) supports the proposals of the Lithuanian Government to introduce new taxes to reduce government budget deficit, informs LETA/ELTA.
On Friday, Lithuanian Minister of Transport and Communications Rimantas Sinkevicius attended a meeting of the Economics, Energy and Innovation Committee of the Baltic Assembly in Riga and presented the goals and the expectations of the Lithuanian Government related to the second stage of the railway Rail Baltica project, inform LETA/ELTA.