WORLD BANK SEES NO RECESSION IN LITHUANIA
Updated 2012-01-24
In its latest overview of the world’s economic prospects, the organisation said that Lithuania should rebound in 2013 to reach the annual economic growth of 3.5 percent.
The overall weaker economic prospects in Europe are seen as the main reason behind Lithuania’s slowdown as the country’s foreign trade is largely dependent on the European markets.
The country’s current account deficit is seen at 3.1 percent of the gross domestic product in 2012 and is likely to rise to 3.6 percent of GDP in 2013 after hitting a low of 2.3 in 2011, the World Bank said.
