DELFI / Domantas Pipas
Companies exporting their production to Britain have already suffered losses due to the depreciated British Pound, Algirdas Butkevičius told LRT radio on Thursday.
“Our companies that export to Great Britain are now calculating whether it is still possible to export with the dropped value of the Pound,” Butkevičius said.
As the UK begins to negotiate its secession from the European Union, the effects could cut Lithuania’s GDP between 0.5% and 0.8%, according to the prime minister.
“If negotiations started immediately, their economic effects for us would be about 0.5% of GDP. This is the lowest point. It can go up to 0.8%. That is not insignificant,” Butkevičius said.
In 2015, the UK accounted for 4.5% of exports of Lithuanian goods and 6.6% of total exports from Lithuania.
Lithuania’s economy is expected to grow between 2.3% and 2.6% this year and 3.5% in 2017.
I admit it: I’m not that type of person who follows domestic and international politics…
While Prime Minister Gintautas Paluckas does not take issue with the statements made by the…
Lithuanian economists are surprised to see our country's economic growth: the Estonian economy has been…
"The fate of Nemuno Aušra (Dawn of Nemunas) in the coalition has been decided; they…
Airvolve, a Lithuanian dual-purpose aeronautics company, has successfully completed its first round of testing and…
The world is becoming smaller, more intertwined, and increasingly fragmented, with many of the previous…
