Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Lithuania growth slows sharply

VILNIUS, Oct 28 – Lithuania\’s struggling economy slowed sharply in the third quarter to grow just 0.1 percent compared to the previous three months, official data showed on Thursday.

The Baltic state\’s statistics office put second quarter growth at a revised 0.5 percent.

Prime Minister Andrius Kubilius described the outcome as a "positive trend" but local analysts said growth was much less than expected.

"The numbers fell short of expectations as the growth was very weak," Jekaterina Rojaka, senior analyst at DnB Nord bank in Lithuania told AFP.

"Next year will be one of challenges in the terms of economic growth. Deficit cutting may be a blow to Lithuanian exports sector," she added.

Hard hit by the global economic crisis, the Baltic EU nation of 3.3 million people inched out of a recession last year that saw the economy shrink 14.8 percent. The government has forecast 1.6 percent growth this year.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...