Analytics, Economics, Employment, Financial Services, Lithuania, Wages

"Despite high global uncertainty, Lithuania this year has favorable conditions for growth. We have raised the GDP growth estimate for this year to 3%," Jekaterina Rojaka, DNB's chief economist for the Baltic countries, said in a news conference on Thursday.

This is a gesture showing that Lithuania, just like the other two Baltic countries, has not lost its potential, the economist said.  

"Provided that the environment does not worsen, Lithuania's economy will grow at a faster rate than that expected until now," she said.

DNB analysts forecast that Lithuania's economy will expand by another 3% in 2017.

The bank predicts that inflation in Lithuania will reach 2% this year and will stay at this level next year. Gross average wages are expected to growth by 5.5% in both 2016 and 2017.

Unemployment is projected at 8% and 7%, respectively. Investments should grow by around 9%.

SEB Bankas expects that Lithuania's economy this year will grow by 2.8% and Swedbank forecasts 3.3% growth. The central Bank of Lithuania projects 2.6% growth and the European Commission expects the economy to expand by 2.9%.