Analytics, Economics, Employment, EU – Baltic States, Financial Services, GDP

After swelling by 1.6% last year, Lithuania's GDP should grow 2.7% this year and 3.1% in 2017. Meanwhile, the respective forecast for Latvia is 3.2% and 3.6% and for Estonia – 2.2% and 2.8%, reads the latest IMF forecast published on Tuesday.

Economic growth in the euro area, which Lithuania is a member of, should reach 1.5% this year and 1.6% in 2017.

The average annual inflation should stand at 0.6% in Lithuania this year and at 1.9% next year, as compared to 0.5% and 1.5% in Latvia, respectively, and 2% and 2.9% in Estonia.

According to the IMF forecast, Lithuania's jobless rate should be at 8.6% this year and at 8.5% in 2017. Meanwhile, Latvia's respective unemployment numbers should be 9.5% and 9.1%, whereas the Estonian jobless rate should be at 6.5% in 2016 and next year.

The IMF ranks Estonia among advanced European economies. The economy of that group as a whole is seen to grow 1.6% this year and 1.8% in 2017. The GDP of all Eurozone countries taken together is estimated to grow 1.5% this year and 1.6% in 2017.

The Estonian consumer price index is estimated to move up 2% in 2016 and 2.9% next year. The current account balance is estimated to be positive in both years – by 1.2% this year and by 0.5% in 2017. The unemployment rate is seen to be 6.5% in both 2016 and 2017, it appears from the IMF World Economic Outlook. The IMF expects the economy of Finland to grow 0.9% this year and 1.1% in 2017.

In its spring economic forecast published in April, the Estonian Finance Ministry said it expects the Estonian economy to grow 2% in 2016 and 3% in 2017.