A season of darkness – with reason for hope
The world economy is experiencing an unprecedented rollercoaster ride due to the coronavirus. The lowest point is behind us, but we will have to wait for a clear-cut and lasting recovery.
In the Baltic countries, a relatively mild contraction during the first half of 2020 was followed by a sharp and merry rebound during the third quarter. The contraction was softened, and the recovery fostered by the small first wave of the coronavirus, little dependence on incoming tourism, timely government support, ample fiscal reserves, balanced economies, and, in some cases, a favourable structure of exports. However, quickly worsening epidemiological situation is putting the recovery at delay.
For more information, contact:
Estonia: Tõnu Mertsina, Chief Economist Estonia, +3728887589
Latvia: Liva Zorgenfreija, Chief Economist Latvia, +37167445844
Lithuania: Nerijus Maciulis, Chief Economist Lithuania, +37052582237
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