The European Commission has adjusted Lithuania's GDP forecast, expecting a 0.4 percent contraction for this year, contrasting the earlier anticipated 0.5 percent growth. High inflation affecting private consumption and subdued global demand are cited as key factors behind the GDP decline. However, a rebound is predicted for 2024, with a 2.5 percent GDP increase, fueled by decreased production costs and consumer prices alongside robust investment and private consumption, slightly lower than the 2.7 percent forecasted earlier. Inflation, currently at 8.8 percent, is projected to decrease to below 3 percent by 2024 and 2025. The economic slowdown is also anticipated to cause a modest rise in the unemployment rate, from 6 percent in 2022 to 6.8 percent in 2023. (ICE VARSAVIA)

Fonte notizia: https://www.lrt.lt