Lithuania’s GDP will decline by 1.4% in 2023 and grow by 2.9% in 2024, the International Monetary Fund (IMF) forecasts, BNS reports. The country’s GDP will continue to rise by 2.7% in 2025, by 2.5% in 2026, by 2.2% in 2027, and by 2.1% in 2028, the IMF projects. Annual inflation will slow down to 4.1% in 2023, to 3% in 2024, and to 2.9% in 2025. Average inflation will reach 2.5% in 2026-2028, the IMF forecasts. Lithuania’s annual unemployment rate will reach 7.8% in 2023, before dropping to 6.7% in 2024, to 6.2% in 2025, and to 6% in 2026-2028. Gediminas Simkus, board chairman of the Bank of Lithuania, noted that Lithuania’s economic resilience was underpinned by a robust labour market, relatively low private sector indebtedness, recovering household real income, and significant corporate and bank reserves.
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