The second wave of the corona pandemic is still having a profound impact on economic activity globally, as well as in the Nordic and Baltic countries. Restrictions have once again been imposed on many activities, the spread of the infection remains high, and health care systems are heavily burdened in many countries.

The Baltic economies suffered relatively small economic setbacks during 2020. Alas, the last year has ended and this one begins with the pandemic still far from being contained, meaning that prolonged stringent lockdowns will continue dragging down growth. We see all three Baltic economies starting to recover more forcefully only in the second half of this year, with GDP growth rising above 4% in 2022.

Read Swedbank Economic Outlook here

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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