Ministry of Finance Publishes Projections of Lithuania’s Economic Indicators for 2007

Date

2006 10 04

Rating
0

Vilnius, October 4, 2006. Following the current economic development trends, the Ministry of Finance publishes the updated economic projections for the current year and the year 2007.

The Ministry of Finance projects that in 2006 GDP growth will be close to 7.8%, and in 2007 – to 6.3%. Average monthly earnings in the country will increase by 14.3% of the projected amount of LTL 1,462 in 2006 to LTL 1,671 in 2007.

Due to a rapid growth in a number of the employed and partly due to decrease in labour force, the unemployment rate will approximate 5% in 2007.

Taking into consideration the rise in prices of natural gas and food and an increase in excise duties projected for 2007, it is forecasted that in 2006 inflation will represent 3.9%, and in 2007 it may reach 4.7%.

The Ministry of Finance will publish the medium-term economic indicators projections in December this year by submitting the Convergence Programme of Lithuania to the European Commission.

 

Public Relations Division