Analytics, Lithuania, Society

"Residents' growing expectations regarding their future are driven by the country's economic situation and the situation in the labor market. (…) Improving expectations is good news as residents expecting their income to grow make bolder financial decisions, thus, increasing the consumption level in the country," Vaidas Zagunis, head of retail banking at SEB, was quoted as saying in a statement.

38% of residents expect growth in the income over the next 12 months, compared to 36% a year ago and 34% two years ago.

Men are more optimistic about income growth, with 40 percent expecting it, compared to 35% of women, 58% of 18-29 year-olds and residents of Kaunas and Vilnius Counties (43% and 42% respectively).

42% said they did not expect a rise in their income, and 20% were undecided.

The online survey was carried out by Norstat in April-May.