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Lithuania: Erste, 2.7% growth in 2019

Robust wage growth, but inflation under control

01 April, 16:46
(ANSA) - BELGRADE, APRIL 1 - Lithuania will continue to experience a strong economic growth this year, but with a slowdown expected in comparison the previous years, according to an Erste Group 'macro outlook' made public today. Economy is expected to slow down to 2.7% in 2019, Erste said, adding that "despite robust wage growth, inflation remained under control." After contracting by almost 15% in 2009, the economy in Lithuania reached its pre-crisis level already in 2014, Erste recalled. In the last five years, it has expanded on average by 3.1%. Growth dynamics peaked in 2017 (+4.1% year on year) supported by rebound of investments and strong private consumption.

In 2018, monthly nominal wages increased by almost 10% year-on-year from 890 to 970 euro, Erste analysts said. (ANSA).

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