Dark clouds for Lithuanian economy ahead, economists say

“The last quarter of 2015 has shown that not everything in the Lithuanian economy is going smoothly. Growth in the construction sector has obviously slowed down, there are changes in domestic trade that I don’t like, demand for non-essential goods is not growing at a rate it used to,” said SEB Bank economist Gitanas Nausėda.

He said that his own projections for Lithuania’s 2016 economic growth is more pessimistic than his bank’s, which puts the estimate at 2.8%.

He says that the current social democrat government, which had criticized economic policies of austerity by the previous conservative-led cabinet, essentially continues the same line with only superficial changes.

“Which is a good thing, because if some parties start making exotic proposals in their election campaigns, we can be reassured. Politicians change once they come to power,” Nausėda said.

Related Post

He thus commented after Finance Minister Rimantas Šadžius presented the government’s and Lithuania’s economic outlook for 2016.

Economist Žygimantas Mauricas of Nordea bank said the problem was that voters do not punish politicians for what they fail to do.

“It is difficult to evaluate what has not been done – what we’ve lost because of the reforms that didn’t happen,” he said.

Share

Recent Posts

  • Foreign affairs

After Nausėda meeting with Budrys, the opposition retorts to the candidate’s “cooling off “

Kęstutis Budrys, the President's Senior Adviser, who has been nominated for the post of Minister…

3 weeks ago
  • Tribune

Rediscover Bulgaria’s Ancient Heritage: Plovdiv’s Restored Eastern Gate and Nebet Tepe

In the heart of Bulgaria, the city of Plovdiv reveals a rich tapestry of ancient…

3 weeks ago
  • Foreign affairs

“No need to mince words”: an assessment of what Trump’s victory means for Lithuania

"We can shout very loudly, but it won't change the position of the American people,"…

1 month ago
  • Latest

Lies, disrespect and mockery: experts assess Blinkevičiūtė’s “gift” to voters without scruples

From mocking messages flooding social networks to harsh criticism from political experts, the decision of…

1 month ago
  • Foreign affairs

Another year in the sovereign history of Kazakhstan

Republic Day has been celebrated in Kazakhstan as the main national date since 2022, giving…

2 months ago
  • Defence

In the assessment of NATO’s readiness for war with Russia, there is also a warning about the Baltic states: what is the Kremlin’s wild card?

According to Lrytas.lt, the North Atlantic Treaty Organisation (NATO) faces a new geopolitical reality with…

2 months ago