Lithuania: economic downturn milder than feared

Lithuania’s GDP contracted by 3.7% YoY in the second quarter of 2020, a smaller dip than previously expected. The quarterly GDP stood at 11.5 billion euros at current prices, having shrunk by 5.1% QoQ, Statistics Lithuania said on July 30. “The second-quarter contraction was mostly due to services. Manufacturing had the second-biggest impact and construction…

Lithuania: government allows flights to Norway

The Lithuanian government has greenlit relaunching regular flights to Norway, making Oslo the fourth destination to be accessible by air from Vilnius. Regular flights have so far been allowed to Frankfurt, Riga and Tallinn. Foreign Minister Linas Linkevicius told the Cabinet that flights from Vilnius to Oslo would resume from May 25, adding that AirBaltic…

Lithuania: EC predicts 8% dip in GDP

The European Commission predicts that Lithuania’s gross domestic product (GDP) will contract by 7.9% this year due to the Covid-19 pandemic. However, the country’s economy should rebound and grow by 7.4% next year, the Commission said in its Spring 2020 Economic Forecast. According to the Commission, the heaviest blow to Lithuania’s economy will be dealt…