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Tuesday, 09.06.2026, 13:01
Free Market Institute: Lithuania’s GDP to fall by 1% in 2010, unemployment – at 17%
Danuta Pavilenene, BC, Vilnius, 09.02.2010.
Print version
Print versionIn 2010, Lithuania’s economy will decline by further 1%, and the increasing unemployment, growing shadow economy and lower population income will be the biggest problems, the Lithuanian Free Market Institute (LLRI) forecasts.
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The survey conducted by the LLRI showed that market participants are more optimistic now than half a year ago, although this optimism is very cautious, reports LETA/ELTA.
As the LLRI Vice-president Giedrius Kadziauskas said at a press conference on Tuesday, most of all market participants fear the unemployment that is predicted to reach 17% in 2010.
According to LLRI forecasts, shadow economy will continue growing this year. LLRI expert Vutautas Zukauskas claims that in 2010 the shadow economy will stand at 27% of gross domestic product (GDP). 37% of the economy subjects that participated in the survey conducted at least a part of their activities in the shadow. It is estimated, that this year the amount will reach 42%.
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