V. Vasiliauskas: this year, the economy will contract by 2%, but one of the largest deficits and a record debt level await us

With most economists beginning to upgrade GDP forecasts, the Bank of Lithuania is right there with them. Its board chairman Vitas Vasiliauskas predicts that the country’s economy will contract 2% this year, but the budget deficit will be among the largest since data began being released and the country’s debt level will close in on 50% of GDP, which is the highest level reached in Lithuanian history.

Vitas Vasiliauskas / Juliaus Kalinsko / 15min nuotr.

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V. Vasiliauskas: this year, the economy will contract by 2%, but one of the largest deficits and a record debt level await us

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