LT: Bank of Lithuania forecasts 3.0% y/y GDP growth in 2012.

By bne IntelliNews August 20, 2012
Bank of Lithuania announced its official GDP forecast expecting GDP growth to amount to 3.0% y/y in 2012. In 2013 GDP growth is expected at 3.4% y/y. The bank indicated that Eurozones economic woes will not allow exports to increase significantly, and the main economic driver for 2012 and 2013 will be domestic demand. Private consumption is expected to increase by 4.2% y/y in 2012, and by 2.8% y/y in 2013. Ruta Rodzko, head of economic and financial stability department, indicated that stronger recovery is impaired by uncertain consumer confidence, due to global economic climate and only slowly recovering Lithuanian employment market. Inflation is expected to stand at 2.9% y/y in 2012, and to 2.4% y/y in 2013.
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