International Internet Magazine. Baltic States news & analytics
Thursday, 30.06.2016, 13:18
The central Bank of Lithuania has not revised the gross domestic product (GDP) growth forecast for the year 2016, however, slightly reduced the economic development forecast for 2017. According to the forecast, the country's economy will expand by 2.6% this year and by 3.3% next year, informs LETA/BNS.
In 2015, Estonia's economic growth was the slowest of the past six years, remaining below the long-term potential of the country, the Bank of Estonia said in its economic overview on April 6th, cites LETA/BNS.
The European Commission (EC) hopes to reopen, in the nearest time, discussions with Russia on the resumption of exports of certain food products, including milk, to Russia, Vytenis Andriukaitis, the Commission’s member in charge of health and food safety, has said on the AgroBalt 2016 in Kaunas, cites LETA/BNS.
Lithuania’s economy will grow at the slowest pace in the Baltic countries this year. However, the country should outpace Estonia in terms of gross domestic product (GDP) growth in 2016 and should then overtake Latvia in 2017, Danske Bank, the second-biggest financial group in Northern Europe by assets, projects, cites LETA/BNS.
Danske Bank estimates the growth of the Estonian economy in the outgoing 2015 year at 1.6% and predicts that growth will accelerate to 2.7% next year and 2.9% in 2017, reports LETA/BNS.
According to Nordea bank analysts, Latvia's gross domestic product (GDP) growth will be at around 3% in 2016, informs LETA.
Inflation in 2015 may not reach the previously forecast 0.8%, as representatives of Latvian Finance Ministry said during yesterday’s meeting of the Saeima Economic, Agricultural, Environmental and Regional Policy Committee, reports LETA.