Economic Forecast Worsens, Inflation Will Accelerate

Lietuvos Radijas ir Televizija

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The Ministry of Finance has downgraded its estimates in its updated economic forecast. However, according to Finance Minister Kristupas Vaitiekūnas, economic growth will be one of the fastest among European Union (EU) countries.

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The Ministry of Finance forecasts that Lithuania's gross domestic product (GDP) will grow by 3.1% this year, and inflation will reach 3.7%.

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Finance Minister Kristupas Vaitiekūnas says the latest economic forecasts predict a slowdown in the country's gross domestic product (GDP) growth. According to him, the surge in energy prices caused by the war in the Middle East will not be reflected in the latest economic development scenario, and it is too early to predict the exact impact of these events.