Analytics, Budget, Economic History, EU – Baltic States, Financial Services, Lithuania

Udrenas said that economy experts agree that Lithuanian economy is to grow while many other European countries are on the verge of recession, reports LETA/ELTA.

"Now, that Lithuania reshaped its economy and economic structures, it has become rather competitive and we can look at the future with some moderate optimism. The economy will grow, yet it will not be a very large growth," Udrenas said.

The modest growth will also be influenced by the situation in the country's key exports markets – Germany and Scandinavian countries where the economic situation seems rather promising and domestic consumption is stable. The economists had forecasted that due to the troubled euro zone Lithuania's economic growth in 2012 should reach 2-3%. Given such rates, the country should come back to the economy level of 2008 in some 6 years.