Posted: 2020-11-26 15:58
Tadas Poviluskas, SEB Bank Economist. Photo by Judita Grigolita (VŽ).
Retail sales have been hampered by a deep recession this year as labor income growth has returned to pre-epidemic levels after weak April and May. However, if the economic stimulus is stopped prematurely without managing the epidemic, there is a risk that the beginning of next year may be weaker than currently expected. According to SEB Bank forecasts, Lithuania’s GDP is expected to fall by 1.5% this year, while Lithuania’s real GDP is expected to grow by 3% next year.
Tadas Poviluskas, SEB’s chief economist by 2020, says. It was a year that could drastically change the Lithuanian economy, and an unexpected epidemic and the quarantine introduced to manage it forced part of the business to suspend its activities.
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