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Lithuanian economy likely to grow by seven percent for years to come
Lithuanian GDP soared 8.7% in 2007, after growing 7.7% in 2006. Economic growth has averaged a stunning 7.5% for the last eight straight years. The consensus forecast of for GDP growth to continue at a 6-7% growth rate for the years to come.Inflation (CPI) ran 5.7% in 2007, as the economy, wages, and prices all continued converging with Western Europe. With unemployment
at only 4.5%, the lowest in the European Union, Lithuania saw gross wages jump 17.9% in 2007, to an average of €565 per month.
Foreign Direct Investment grew €1,622 mln, or €480 per capita, to total €2,931 per capita. Meanwhile, construction costs grew 12.8% on the year.
