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Nordea: Estonia’s GDP to fall by 4.5%, Latvia’s – by 6%, Lithuania’s – by 3%
Juhan Tere, BC, Tallinn, 21.01.2009.
Print version
Print versionIn its economic outlook, Nordea Bank predicts that the economic decline will deepen in the Baltic States as these countries' principal exports markets are also going through a fall, writes Äripäev.ee/LETA.
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The bank estimates that Estonia will see a fall in its GDP by 4.5% in 2009. The projected economic decline in Latvia is 6% and in Lithuania 3%. The decline will continue in the year 2010.
Nordea predicts that the GDP will shrink by 1.3% in Finland and by 1.5% in Sweden.
Estonia"s exports will fall by 5%, according to Nordea, while in Latvia and in Lithuania the fall will be 2%.
Estonia"s budget deficit will grow to 3% of GDP this year while Latvia"s projected budget deficit will be 6% this year and 5.5% next year. Lithuania"s budget deficit will be 2% in 2009 and 3% in 2010.
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