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"Working-age population is projected to continue to decline in the Central and Eastern Europe. To mitigate this adverse demographics, countries could focus on how to boost labor supply. There is an ambition in the Baltic states until 2020 to increase participation in line with EU," Jiri Podpiera, economist of the Developing Economies Division of the IMF European Department, said in his presentation of the IMF spring report about Central, Eastern and Southeastern European economy in Vilnius on Monday.

In his words, the lack of labor force may be solved by improving the quality of labor force.

"Skills' mismatch and skills' shortages in Lithuania are rather high and the country would benefit from more active labor market policies that would address the issue of skills' mismatches and shortages," said the IMF economist.

According to the IMF forecasts published in April, Lithuania's gross domestic product (GDP) should grow 2.7% this year and 3.1% in 2017, while the jobless rate should stand at 8.6% in 2015 and 8.5% next year.