Lithuanian economy expands 3% in Q2
VILNIUS. July 31 (Interfax/BNS) - Lithuanian GDP climbed 3% year-on-year in the second quarter of 2014 and was 31.32 billion litai in constant prices (around 9.07 billion euros, the Lithuanian Statistics Department reported.
GDP growth including seasonal factors and number of working days was 3.1%.
GDP was up 0.7% on the first quarter of 2014.
The biggest impact on GDP growth came from an increase in construction, the manufacturing industry, the transport sector and warehousing, as well as an increase in wholesale and retail trade.
Lithuanian GDP grew 3% in the first quarter of 2014 to 27.69 billion litai in constant prices.
The Central Bank of Lithuania has lowered its GDP growth forecast for the country in 2014 by 0.3 percentage points to 3.3%. The IMF expects GDP growth of 3.5% and inflation of around 1% in Lithuania this year. The European Commission reduced its GDP growth forecast for Lithuania to 3.3%, compared to 3.5%.
The litas is pegged to the euro at a rate of 3.4528 litai/EUR1.
