Strong growth in sight
More than a year has passed since the pandemic hit with full force, and we are not yet out of the woods. Healthcare remains under pressure and the spread of the virus is still high, which means a longer time with restrictions and continued economic losses.
Nevertheless, despite continued flare-ups of the pandemic and limited success in containing it, we see only limited negative effects on the Baltic economies. Only a few sectors remain in the doldrums, while the rest of the economy continues galloping ahead - we expect GDP growth to be close to 3% this year. As vaccination accelerates and EU support starts rolling in, the growth of all three economies is likely to accelerate closer to 5% next year – and it will be more broad based and inclusive.
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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