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In July 2014 the EU Council will most likely approve Lithuania’s admission to the euro area, since the country fulfils all Maastricht criteria. For 2014 we expect GDP growth to rise to 3.6% and to further accelerate slightly in 2015 and 2016. An upswing of external demand this year and in 2015 and ongoing flourishing household consumption driven by strong wage developments bolster economic activity. From 2015 onwards public investments will provide for an additional impulse.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||3028||2988||2958||.||.||.|
|GDP, real change in %||6.0||3.7||3.3||3.6||3.8||4.0|
|GDP per capita (EUR at PPP)||16900||18300||19500||.||.||.|
|Gross industrial production, real change in %||6.4||3.7||3.4||.||.||.|
|Unemployment rate - LFS, in %, average||15.4||13.4||11.8||10.6||9.7||9.0|
|Average gross monthly wages, EUR||593||615||646||.||.||.|
|Consumer prices, % p.a.||4.1||3.2||1.2||1.5||2.8||3.0|
|Fiscal balance in % of GDP||-5.5||-3.3||-2.8||.||.||.|
|Public debt in % of GDP||38.3||40.5||41.5||.||.||.|
|Current account in % of GDP||-3.7||-0.2||1.5||-0.3||-0.4||-0.5|
|FDI inflow, EUR mn||1040||545||400||.||.||.|
|Gross external debt in % of GDP||77.4||75.4||67.2||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
LITHUANIA: Euro area within reach
in: Investment to the Rescue
wiiw Forecast Report No. Spring 2014, March 2014 , pp. 55-57 Details and Buy
Monthly Report No. 11/2013
Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables Details