LT: EBRD improves Lithuanian GDP forecast for 2010.

By bne IntelliNews January 26, 2010
European Bank for Reconstruction and Development has improved Lithuanian GDP forecast to 0.5% y/y GDP decline in 2010, from previous forecast of drop of 3% y/y in 2010, which was announced in October. The bank forecasts Lithuanian GDP to grow at 2.3% y/y in 2011. Lithuanian GDP decline in 2009 instead of previously planned 18.4% y/y in 2009, is now forecasted at 15.2% y/y drop. Estonian GDP forecast from October forecast stating 0.1% growth in 2010, has been reduced to 1.8% y/y decline in 2010. Latvian GDP forecast for 2010 has been reduced from decline of 1.2% y/y in 2010, to 2.0% y/y decline. EBRD expects even steeper drops in GDP in 2009 than forecasted in October. In Estonia the forecast is revised to 14.7% y/y drop in 2009 GDP , down from 13.2% y/y drop forecasted in October. In Latvia drop is expected at 17.9% y/y in 2009, down from previous forecast of 16% y/y drop.

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