SEB has revised its forecast for Lithuania’s GDP growth in 2022 up to 0.9% from 0.1% in late March, and has raised its projection for 2023 to 1.8%.
SEB Lithuania’s economist Tadas Povilauskas says that the upward revision reflects expectations of a less sharp economic downturn in the second quarter, as well as a positive impact of the government’s anti-inflationary package on consumption, but notes that the forecast is rather pessimistic.
According to SEB, its analysts stick to their forecast that the Lithuanian economy will contract in the second and third quarters, meaning that a technical recession will not be avoided. (BNN/Business World Magazine)
