International Internet Magazine. Baltic States news & analytics
Sunday, 25.01.2015, 22:19
In its fresh economic report made public on Monday, the European Bank for Reconstruction and Development (EBRD) reduced Estonia's economic growth forecast by 0.3 percentage points compared to the autumn forecast, to 2.2% for the year 2015, reports LETA.
Keyword tags: Analytics, Baltic States – CIS, Economics, Estonia, EU – Baltic States, GDP
Professional services firm EY (Ernst&Young) forecasts that Lithuania's GDP will grow by 3.6% in 2015. The adoption of the euro, reduced financial risks and cheaper borrowing will enable three times faster growth of Lithuanian economy compared to the euro area average, whereas in two years economic growth can reach 5% rate, informs LETA/ELTA.
In 2013, the total added value of inbound and domestic tourism in Lithuania accounted for LTL 3.2 billion (EUR 927 million) or 2.96% of the country's GDP, reports LETA/ELTA.
In the light of the recent developments, Latvia's economic growth next year is likely to face more risks, but it is impossible to predict at the moment whether, and by how much, the growth projections for 2015 will have to be revised, as Aleksis Jarockis, head of the Finance Ministry's Communications Department, told LETA.
Economic growth of 2.9% of GDP in Lithuania should be the highest among the Baltic States in 2014. However, in 2015 it is likely to decrease to 2.7%, while Estonia's will be 2.3% and Latvia's 2.9%, forecasts Danske Bank, cites LETA/ELTA.
Latvian Saeima passed the 2015 budget bill in the final reading last night; the consolidated budget revenue next year is set at EUR 7.3 billion and spending at EUR 7.5 billion, reports LETA.
According to the flash estimates of Statistics Estonia, Harju county accounted for 61.3% of the gross domestic product (GDP) of Estonia in 2013.