"It would be very risky to say mechanically that corporate profitability will increase further this year compared with last year. A downtrend in profits emerged in the fourth quarter of 2011 and it may stay on this year due to Lithuania's slowing economic growth and increasing costs," he said.
The economist forecasts that wages will rise by 2-3 percent this year and that this moderate growth should be "just enough to offset inflation, but only if it eases."
The average monthly gross pay in Lithuania increased by 3.2 percent in the first quarter from a quarter ago, with salaries in the public sector up by 4.1 percent and those in the private sector up by 2.9 percent, the country's statistics office said on Friday.
2012-05-25 16:16
Wages in Lithuania expected to rise 2-3 percent amid dwindling corporate profits
A downward trend in Lithuanian corporate profits emerged at the end of last year and may continue this year amid a slowdown in the country's economic growth and rising costs, Gitanas Nausėda, an adviser to SEB Bankas' president, has said in a comment on Friday.
Gitanas Nausėda / Andriaus Ufarto/BFL nuotr.
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