Lithuanian economy is bad defect with almost a quarter

Lithuanian economy svi with 22.4 percent in the second quarter versus the previous year, taking into account the biggest economic downturn in the entire European Union forward Blumbarg.
In the first quarter of the year, gross domestic product (GDP) of Lithuania sank by 13.3 percent, the agency recalled.
Local experts comment that no one expected the GDP of the country literally disappears, then – have a rate. According to them, the poor economic situation of Baltic triad again placed on the agenda the issue of devaluation of local currencies.
In June spread hearing that Latvia will waive the fixed exchange rate, followed by Lithuania and Estonia. Then the three governments denied that they would take steps to devaluation of the currency. Moreover, the trio was in the waiting room before euro are obliged to keep a fixed rate to the euro. Lithuania is the currency board in 1994 by
Meanwhile, Latvia reached prior agreement with the International Monetary Fund (IMF) loan. This means that the fund will allocate those of the country 195 million euros, which block in March because of the inability of government to reduce budget expenditures.
Budget deficit of Latvia is likely to exceed 10 percent of GDP by the end of the year after the contraction of the economy continues to grow. During the first three months of the year Latvian GDP decreased by 18%.

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Finance