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Lithuania: a steady growing economy
Real estate news By FreshPlaza
10/9/2007
Lithuania is a country with a low risk at political and economic levels, and with a growth rate among the highest in Europe. This extraordinary growth is due to its macro-economic stability, its flexibility on work and the force of its international trade, as well as the policies of incentives to innovation, as well as its strategic geopolitical position, that make Lithuania one of the main crossroads between Russia and the EU.
Latest available data confirm that Lithuania is a country with a very low economic and political risk. Lithuania is part of the EU as well as of the NATO and is following a foreign policy in line with 'Western rules' appreciated by the major international institutions. This data are confirmed also by Heikki Nikunen, an IBM manager, for whom “It is really convenient to do business in Lithuania. The results of our activity are the best proof”.
Even the International Monetary Fund (IMF) in a recent survey evaluated the results reached by Lithuania as one of the best within the whole EU. It also stated that the secret of Lithuanian economic success is its macrostability, the flexibility of its workforce and the force of its international trade.Its GDP reaches every year a growth rate varying from 6% to 10%: 7.5% in 2005, 7.4% in 2006 and 7.7% is expected in 2007. According to the Statistical Office of the European Communities (Eurostat) in the period April-June 2006 the GDP growth rate reached 8.6%, the highest GDP growth rate in the whole EU.Another primacy of the Baltic Tiger is the growth rate of the industrial production which raised up to 13.6% in the period June 2005-June 2006, one of the highest rate within the members of the EU. According to the school of Economics of Turku, in Finland, Lithuania is among the Baltic countries with the lowest inflation rate, which for 2007 is expected to be 2.9%.
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