: Baltic Course: IMF forecasts fastest economic for Latvia among Baltic States in 2016

11:58 Apr. 13, 2016

Baltic Course: IMF forecasts fastest economic for Latvia among Baltic States in 2016

President of Latvia Raimonds Vejonis speaks during an interview with the Associated Press in the Latvian capital Riga, Aug. 25, 2015 (AP Photo)

According to the forecast, common economic growth in the euro area should reach 1.5% this year

Lithuania's economy will see faster growth in 2016 than in 2015, however, will fall behind Latvia in terms of increase of the gross domestic product (GPD), the International Monetary Fund said, forecasting the slowest economic growth for Estonia this year, informs LETA/BNS.

Read also Lithuania mulls doubling its contribution to NATO Response Force

After swelling by 1.6% last year, Lithuania's GDP should grow 2.7% this year and 3.1% in 2017. Meanwhile, the respective forecast for Latvia is 3.2% and 3.6% and for Estonia – 2.2% and 2.8%, reads the latest IMF forecast published on Tuesday.

Economic growth in the euro area, which Lithuania is a member of, should reach 1.5% this year and 1.6% in 2017.

Read also NATO warships arrive in Riga, Latvia (photo gallery)

The average annual inflation should stand at 0.6% in Lithuania this year and at 1.9% next year, as compared to 0.5% and 1.5% in Latvia, respectively, and 2% and 2.9% in Estonia.

According to the IMF forecast, Lithuania's jobless rate should be at 8.6% this year and at 8.5% in 2017. Meanwhile, Latvia's respective unemployment numbers should be 9.5% and 9.1%, whereas the Estonian jobless rate should be at 6.5% in 2016 and next year.

Watch also Former U.S. Diplomat Paula Jon Dobriansky: 'For IMF further support, we have to prove it's not just one or two reforms, but a way forward'

The IMF ranks Estonia among advanced European economies. The economy of that group as a whole is seen to grow 1.6% this year and 1.8% in 2017. The GDP of all Eurozone countries taken together is estimated to grow 1.5% this year and 1.6% in 2017.

Full story

comments powered by Disqus


News15:57 Oct. 22, 2016
Belarus wants apologies from Ukraine over plane
News14:28 Oct. 22, 2016
NATO appoints its first intelligence chief - DW
News12:41 Oct. 22, 2016
19 dead in chopper crash landing in Russia
News11:57 Oct. 22, 2016
Mental health of Ukrainian prisoner in Russia requires urgent treatment - journalist
News09:53 Oct. 22, 2016
Grad is back in conflict zone (update)
Subscribe to receive regular email updates about Ukraine and Eastern Europe