Lithuanian GDP to grow 3.1% in 2013 - central bank
VILNIUS. Feb 21 (Interfax) - The Lithuanian economy will grow 3.1% this year and 3.8% next year, analysts from the Bank of Lithuania forecast.
"The development of trade will influence GDP this year more favorably than forecast, although this year's forecast is not changing [in relation to the forecast made last November] due to the fact of a slight deterioration in other GDP components, predominantly investments," the bank's deputy chairman Raimondas Kuodis is quoted as saying in a Bank of Lithuania press release.
The bank reckons that investments will grow 4.6% this year (last November's forecast was 6.2%), while they will rise 7.4% in 2014.
According to Central Bank analysts, exports will climb 5.8% in 2013 and 6% in 2014. Imports will increase 6.1% this year and 6.5% next year.
Meanwhile, the Bank of Lithuania has lowered its average annual inflationary forecast for this year by 0.4 percentage points to 2.4%. Prices will rise due to a cancellation of a discount previously included in the 2013 inflationary forecast but transferred to 2014 inflation, which is projected at 3%.
In 2011, the Lithuanian economy grew 5.8%, and in 2012, it grew 3.6%. The forecasts for 2013 are as follows: 3% GDP growth as forecast by the Finance Ministry, 2.4% as forecast by the European Bank for Reconstruction and Development (EBRD) and 3% by the International Monetary Fund (IMF).