Estonia’s and Latvia’s gross domestic product (GDP) will expand by 2 percent in 2012. In 2013, Estonia is expected to grow by 3.6 percent, and Latvia by 2.5 percent, the Fund said.
The Fund estimates that this year Lithuania’s economy will grow faster than in the emerging Europe region, which includes Lithuania and Latvia. Emerging Europe should grow by 1.9 percent overall this year and next year growth will pick up to 2.9 percent.
The average annual inflation in Lithuania is expected to go down to 3.1 percent this year, from 4.1 percent in 2011, and decline further to 2.5 percent in 2013. The country’s current account deficit should account for 2 percent of GDP this year and for 2.3 percent next year.
The IMF estimates that the jobless rate in Lithuania will go down to 14.5 percent this year, from 15.5 percent in 2011, and will decline further to 13 percent in 2013.