Direct Speech, Financial Services, Lithuania

Rimantas Sadzius

In the second quarter 2014 against the same quarter in 2013, country's gross domestic product (GDP) stood at 3.0%, while the Ministry of Finance has forecast a 3.4% growth.

"We have forecast the growth of this year at the time when the political situation around Lithuania was slightly different. The end of the last year, the first quarter of this year were the quarters, when we felt that not very favourable events are taking place around us, it includes not only certain sanctions, restrictions, export suspensions, but also the deterioration of the economic situation in Russia, one of our key partners in economy, as well as the decline in purchasing power of ruble," said Sadzius in an interview to Ziniu Radijas radio on Thursday.

According to him, the present results allow drawing a conclusion that the events taking place around Lithuania have had no significant impact on economic situation in Lithuania.

Asked about the impact of the new sanctions against Russia on the Lithuanian economy, the minister did not hide that Lithuania would be affected in a certain way, yet it should not lead to some catastrophes or some dramatic experiences.