IMF: Latvia’s econ­omy to grow most among the Baltic States this year

The Baltic Times - - BALTIC NEWS - BNS/TBT Staff

Lithua­nia’s 2017 eco­nomic de­vel­op­ment will be faster than in 2016, how­ever, will be be­hind the gross do­mes­tic prod­uct (GDP) growth pro­jected for Latvia, the In­ter­na­tional Mon­e­tary Fund (IMF) said. Es­to­nia should re­port the slow­est eco­nomic growth this year.

Af­ter ris­ing by 2.3 per cent last year, Lithua­nia’s GDP should in­crease by 2.8 per cent this year and by an­other 3.1 per cent in 2018. The rel­e­vant fore­casts for Latvia are 3 per cent and 3.3 per cent and for Es­to­nia – 2.5 per cent and 2.8 per cent, the IMF said in its lat­est fore­casts on Tues­day

Eco­nomic growth in the Euro area, which Lithua­nia is part of, should reach 1.7 per cent this year and 1.6 per cent in 2018, the IMF said.

Lithua­nia’s av­er­age an­nual in­fla­tion should stand at 2.8 per cent in 2017 and 2 per cent next year, as com­pared with 2.8 per cent and 2.5 per cent in Latvia and 3.2 per cent and 2.5 per cent in Es­to­nia, re­spec­tively. Ac­cord­ing to IMF fore­casts, Lithua­nia’s un­em­ploy­ment rate should stand at 7.4 per cent this year and at 7.2 per cent next year, while Latvia’s fig­ures should be 9.4 per cent and 9.2 per cent and Es­to­nia’s job­less rate should be 8.3 per cent and 8.9 per cent, re­spec­tively.

The cur­rent ac­count deficit of Lithua­nia should be 1.6 per cent of the GDP this year and 1.5 per cent in 2018.

Newspapers in English

Newspapers from Latvia

© PressReader. All rights reserved.