International Internet Magazine. Baltic States news & analytics
Thursday, 20.06.2013, 09:16
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.
Keyword tags: Economics, EU – Baltic States, Export, Investments, Latvia, Markets and Companies
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.
Swedbank has upped Latvia's gross domestic product growth forecast for the year 2013 from 4.1% forecast this past January to 4.3% now, Swedbank chief economist Lija Strasuna said during a presentation of the latest Swedbank economic report today, writes LETA/Nozare.lv.
The Estonian state-owned export credit foundation KredEx earned a profit of 0.9 million euros in 2012 after its biggest loss ever, 3.2 million euros in 2011, LETA/Public Broadcasting reports.
Lithuanian Minister of Economy Birute Vesaite says that she does not think that the euro adoption in the country could harm small-scale companies. The only difference that companies could feel will be changes in export destinations, she says, reports LETA/ELTA.
Although economic growth in Estonia has depended significantly on foreign trade, the contribution of exports to gross domestic product (GDP) growth has fluctuated. However, as export growth fell already at the end of 2011, the contribution of domestic demand to GDP growth started to dominate, Estonian branch of Swedbank said in a statement, writes LETA.
In 2012 Lithuania had another year of robust economic growth. Real GDP expanded by estimated 3.6%, driven by private consumption and net exports. Private consumption was initially the main growth engine, but lost steam during the year, the European Commission said in a statement. According to the forecast, the Estonian economy will grow by 3% in 2013; in the autumn 2012 forecast they expected Estonia to have 3.1% economic growth this year, LETA/Public Broadcasting reports.