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Monday, 04.12.2023, 21:06
Lithuanian President Gitanas Nauseda signed the 2021 budget bill with a deficit target of 7% of GDP into law on December 29th, cites LETA/BNS.
Keyword tags: Budget, Financial Services, GDP, Legislation, Lithuania, Markets and Companies
Latvia's economic performance this year will be better than previously forecast, according to a monitoring report by the Fiscal Discipline Council (FDP), cites LETA.
In 2019, against 2018, an increase in gross domestic product (GDP) in Lithuania was recorded in all counties. The fastest GDP growth was observed in Vilnius (9.2%) and Marijampolė (8.7%) counties.
The Lithuanian central bank (Lietuvos bankas) forecasts that the country's economy will recover by 1.9% this year from a projected contraction of 2% this year, informs LETA/BNS.
The Bank of Latvia has cut Latvia's gross domestic product (GDP) forecast for next year to 2.8% in contrast to the previous forecast of 5.1%.
Following the COVID-19 outbreak in spring, the third quarter was more favourable for the economy. We already knew this from the GDP flash estimates published a month ago (although the estimates suggested less pronounced growth) and from other data.
Lithuania's economy expanded by a seasonally and calendar-adjusted 3.8% in the third quarter of 2020 compared to the second quarter to reach 13.2 billion euros, according to the second estimate of GDP released by the country's statistics office on December 1st, cites LETA/BNS.