The European Commission raised its forecast for Lithuanian economic growth in 2019 to 3.1% from 2.7%

The European Commission has revised its growth forecasts regarding the Baltic countries for the current year. Its outlook for Lithuania has been improved to 3.1% from a May estimate of 2.7%. The EC noted the continuing immunity of Lithuanian exports to the problems existing in world trade. Private consumption in the country is supported by the stability of the labor market and the reduction of labor taxation. The acceleration of the disbursement of funds provided to Lithuania by the European Union is also a positive factor for economic growth. Inflation in 2019 is expected at 2.2%, which is higher than the previous forecast of 2.1%. The forecast for the growth of the Latvian economy in 2019 has been lowered to 3% from 3.1%, while for Estonia, the EC raised its forecast from 2.8% to 2.9%.

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