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International Internet Magazine. Baltic States news & analytics Saturday, 25.10.2014, 13:09

SEB: economic growth of Baltic States in 2013 will be fuelled by domestic demand

Danuta Pavilenene, BC, Vilnius, 28.08.2012.Print version
According to the SEB Group's economists, the economic growth of the Baltic Sates in 2013 will be fuelled by domestic demand, but Lithuania, Latvia and Estonia will see the potential increase of Gross Domestic Product (GDP) only in 2014, therefore the unemployment rate will be declining slowly.

Inflation in Latvia and Lithuania will remain relatively low, whereas in Estonia the biggest. However, the fastest rise of wages is forecasted there. SEB analysts estimate that Latvia will timely fulfill the Maastricht criteria set to adopt the euro in 2014, writes LETA/ELTA.

 

Despite the harsh winds in the euro area, Lithuanian exports and domestic consumption remains in a relatively strong position. Diversified export markets and the performance optimization done during the crises gives strength to Lithuanian economy.

 

On the other hand, the volume of business investment remains modest due to the uncertainty of the future. It poses a threat that the economy will lose momentum.


"Assuming that the major world economies will not experience extreme shocks, we expect a balanced, steady, but not too fast Lithuanian economic growth in the coming years, "said Senior Analyst at SEB Bank in Lithuania Vilija Tauraite.






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