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Ernst & Young forecasts slowdown in Lithuania's economic growth

123rf nuotr. / Diagrama
Šaltinis: BNS

Lithuania's GDP growth will decelerate to around 2 percent this year, the auditing and business consultancy firm Ernst & Young forecasts.

The Lithuanian economy will expand at a moderate pace this year after strong growth last year, according to Ernst & Young's economic forecasts, co-produced with Oxford Economics.

Lithuania's economic growth will be held back by weakening export opportunities due to the eurozone recession, as well as by business investments having been put on hold until October's general election. A sharp rise in prices for energy and other resources also makes the country's economic growth outlook vague, the company said in a press release.

Lithuania's annual average inflation is forecast to reach 2.7 percent this year.

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