Analytics, Crisis, Economics, Employment, Financial Services, Lithuania

Andrius Kubilius.

"There are certain parameters indicating that the country's economy had survived the maximum tensions of the global crisis. In the third quarter, as compared to the second quarter, the Lithuanian GDP increased by 6%. We should be happy that, in comparison with the year 2005, Lithuanian industry withstood this crisis better than the industries of Germany or Great Britain," said Andrius Kubilius in the interview to Ziniu radijas on Thursday.

Prime minister was also satisfied with the data provided by the Lithuanian Department of Statistics, indicating that the pace of an increase in the unemployment rate has slowed down. Asked when we could expect the unemployment rate to stop growing, Kubilius answered it would mostly depend on the global situation. The Government, on its behalf, will pay more attention to economic stimulus programmes. "This year we managed to invest 3 billion litas (0,86 billion euros) of the "european" money into economy; next year we are planning to invest 8 billion litas (2,31 billion euros). In our opinion, this might serve as the key tool for enhancing the situation in the labour market or at least the tool that will help to avoid major disasters," said Kubilius.

A number of indicators show that Lithuania is gradually returning to the pre-crisis level. On the other hand, the leader of the ruling coalition said that the country's economy will not get back to big numbers straight away, therefore, there is a need to consolidate budgets and reduce the inequality between costs and revenue, writes ELTA/LETA.