Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5% (2.2%) in 2025. Wages will grow by an average of 10.1% (9.5%) in 2024 and 7.6% (6.4%) in 2025. Lithuania’s unemployment rate will reach 7.3% (7.2%) in 2024 and 7.1% in 2025. Finance Minister Gintare Skaiste noted that the economy was “rather healthy,” pointing to recovering foreign demand, stabilising prices, rising wages, and improving consumer confidence. She said that there was therefore “no need for belt-tightening” in the state budget for 2025.
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