Economic development scenario preparation methodology

The Ministry of Finance prepares the economic development scenario in accordance with general and partial equilibrium modelling principles, as well as the principles of national accounting. Projections are based on the assumption on the accuracy of preliminary data. Regression analysis and econometric modelling methods are applied. Techniques suggested by the experts that have worked with the PHARE projects are employed. The projections are coordinated with experts of the Bank of Lithuania, relevant line ministries, and Statistics Lithuania.