Following war in Ukraine, the central Bank of Lithuania will revise the existing growth forecasts for this year, its board chairman Gediminas Simkus has confirmed, adding that new estimates will be released on March 22.
Inflation is now being affected by changes in the international environment, the central banker said. Annual inflation in Lithuania reached 14.2% in February, according to CB.
In December 2021, the Bank of Lithuania estimated that the country’s GDP would expand by 3.6% in 2022. In January, the European Commission cut its GDP forecast for Lithuania to 3.4% for 2022, while Swedbank and SEB banks slashed theirs to 3.2% and 3.5% respectively. (BNN/Business World Magazine)
