International Internet Magazine. Baltic States news & analytics
Wednesday, 30.07.2014, 22:13
The forecast of consultation and auditing bureau Ernst&Young and Oxford Economics, made public on Thursday, predicts Estonia 2.5% economic growth in 2014, LETA/Postimees Online reports.
Keyword tags: Analytics, Economics, Estonia, Export, Financial Services
In 2013, increase of domestic demand in Lithuania – private consumption and investment – is more rapid than it was expected, and it compensates decreasing influence of export; therefore, the Bank of Lithuania adheres to the previous GDP growth projections, the Bank of Lithuania said in a statement, cites LETA.
Swedbank economists have retained Latvia's economic growth forecast for this year at 4.3%; Latvia's GDP growth forecast for the year 2014, however, has been lowered from 4.7% to 4.3%, according to the bank's latest economic outlook, informs LETA/Nozare.lv.
SEB lowered Estonia's economic forecast for the current year from 1.5% to 1.3%, SEB said in a statement, informs LETA. The economic growth expectation for next year dropped from 3.3% to 2.6%; this is a result of decreasing investments and weak export growth.
In its latest Economic Outlook, Nordea indicates that in the first six months of 2013, the projections made have proven to be true – once again, local demand will, for some time, be the key driver for growth in the Latvian economy, and this year economic growth will be slightly below 4%, informs BC Signe Lonerte, public relations specialist at Nordea Latvija.
Latvia is interested in closer economic cooperation with Kuwait, therefore it is necessary to develop mutual cooperation between Latvian and Kuwaiti businessmen, Economy Minister Daniels Pavluts emphasized after a meeting with Kuwaiti MPs yesterday, informs LETA.
Lithuanian financial institutions, surveyed by the Bank of Lithuania, are most worried about external risk sources: the escalation of the issue of the debts of the states of the European Union, also the possible drop in Lithuania's export if the growth of the world’s economy were to suddenly slow down, reports LETA the national bank of Lithuania.