The Economist Calls it “the Fastest Growing Baltic Economy”

In its Country Briefing the Economist Intelligence Unit calls Lithuania “the fastest growing Baltic economy despite an unfavourable external context”. The demand for 400 mill worth Eurobonds issued by the Lithuanian Government exceeded the supply, says the Ministry of Finance of Lithuania. The Economist Intelligence Unit beside increasingly favourable trade and current account data provides other indicators proving that Lithuania’s economy is on the rise. These indicators include the growth of retail sales by 13.5% year-on-year in January –November 2002, rising gross fixed investment (by 20.7% year-on-year in January –September 2002) and falling unemployment (from 13.1% at the start to 10.9% at the end of 2002). The strengthening of the Lithuanian economy is based on the growth of private consumption, expanding foreign sales, despite the difficult external context, and increase in domestic services.