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Saturday, 20.04.2024, 08:30
Lithuanian FinMin raises 2017 GDP growth forecast to 3.6%
"We see rapid economic growth, declining unemployment and export
growth. Our goal is not only to maintain momentum, but also to avoid, through
all possible fiscal means, a possible overheating of the economy," Finance
Minister Vilius Sapoka said in a
press release on Monday.
"To achieve this, we have to implement a responsible fiscal policy –
to seek a general government surplus and to ensure that we have sufficient room
for maneuver during less favorable periods for the economy," he said.
The Finance Ministry slightly raised its GDP growth forecast for next year,
to 2.9% from 2.6%, and left the projections for 2019 and 2020 unchanged at 2.5%
and 2.4%, respectively.
The ministry forecasts that household consumption expenditure will increase
by 4.2% this year and by 3.7% next year and expects general government
consumption expenditure to go up by 1.5% and 1.2%, respectively. Gross fixed
capital formation (investment) growth is projected at 6.3% in 2017 and at 6% in
2018.
Lithuania's exports are expected to grow by 9.3% this year and by 6.6% next
year. Its imports are forecast to increase by 10.3% and 7.4%, respectively.