Analytics, Economics, EU – Baltic States, Financial Services, GDP

International Internet Magazine. Baltic States news & analytics Thursday, 23.10.2014, 16:05

World Bank: in 2013 Lithuania will become region's growth leader

Danuta Pavilenene, BC, Vilnius, 04.07.2012.Print version
Lithuania's economic growth in 2013 will be the highest in the region, reaching 3.5%, according to the World Bank's latest EU11 Regular Economic Report. Average economic growth in the EU11 countries is estimated to reach 2.5%, Invest Lithuania said.

The best performances are expected from Lithuania, Poland (3.2%), Slovakia (3.1%) and Estonia (3%). Latvia is projected to rank fifth with GDP growth of 2.9%, writes LETA/ELTA.

 

Managing Director of Invest Lithuania Milda Darguzaite emphasizes the strong impact of successful fiscal reforms on growth. "Lithuania's GDP growth is driven primarily by increasing domestic demand. Growing exports and investment, mainly into real estate, machinery and other equipment, is another accelerator of economic growth," she said.

 

According to the World Bank, Poland's GDP will increase by 2.9% in 2012, the highest in the region. In Latvia and Lithuania, heavily affected by the economic crisis, GDP will rise by 2.3%. The World Bank forecasts 1.5% growth for the EU11 this year.






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