Based on the projections of the Ministry of Finance, Lithuania’s GDP growth is expected to stand at 1.9 percent in 2015. Although when the 2015 budget was being drafted, a 3.4 percent GDP growth was predicted. According to the finance minister, what caused projections to go downward were poor economic and political relations with Russia, which is Lithuania’s biggest trading partner.
“Looking at the current economic situation in Lithuania, for example, at the continuing domestic demand and dynamics of retail trade, I think there is a chance to surpass the level of 2 percent, although just slightly,” said Šadžius when presenting the 2016 draft budget at the Lithuanian Parliament.
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