Lithuania

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The economy performed better than expected in the first half of 2024, with GDP increasing by 2.4%. Thanks to a substantial fall in inflation, real incomes are picking up considerably, and will continue to do so over the next two years, boosting household consumption. In line with the economic upswing, employment is expanding significantly, and unemployment increased only slightly this year. However, private investment activity is lagging, as external demand remains in the doldrums. Meanwhile, the government plans to raise infrastructure investment further. We expect real GDP to grow by 2.1% in 2024, and for that to be followed by a modest acceleration to 2.5% in 2025 and 2.8% in 2026.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons28322872....
GDP, real change in %2.50.32.42.52.8.
GDP per capita (EUR at PPP)3165033030....
Gross industrial production, real change in %9.1-6.4....
Unemployment rate - LFS, in %, average6.06.97.27.06.5.
Average gross monthly wages, EUR17892014....
Consumer prices, % p.a.18.98.70.92.02.5.
Fiscal balance in % of GDP-0.7-0.7-1.8-2.5-2.3.
Public debt in % of GDP38.137.3....
Current account in % of GDP-6.11.13.72.82.3.
FDI inflow, EUR m22913548....
Gross external debt in % of GDP66.869.2....


Basic data are continuously updated.

* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.

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Monthly Report No. 7-8/2024

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2024
45 pages including 5 Tables and 12 Figures

Details

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Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII Details

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