Lithuania’s open economy suffers | World Defense

Lithuania’s open economy suffers

Adomas

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COVID-19 continues to test economy of the Baltic States. According to Lithuanian Finance Minister Vilius Šapoka, it is too soon to tell whether the second half of the year would be hopeful.
The recent spike in coronavirus cases and growing uncertainty over the future might negatively affect business and consumer expectations, according to Šapoka.
Lithuania’s GDP contracted by 3.7 percent in the second quarter of 2020, compared to a year ago.
The country’s quarterly GDP stood at 11.5 billion euros at current prices, having shrunk 5.1 percent from the previous quarter, Statistics Lithuania said on Thursday.
So, the skies are gloomy. The rest of Europe has fared a lot worse than the Baltics and is seeing a surge in Covid-19 cases lately. This is not good news for the Baltic open economies, whose fortunes depend on their regional partners.
As usual, the economists would need to clean up after innumerate politicians.
 

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