Republic of Lithuania: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 123

Publication date: March 2005

ISBN: 9781451824117

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , deficit , government , Lithuania , government debt guarantee , authority , financing expenditure , EU transfer , EU accession , EU project , exchange rate , Current account deficits , Global

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Summary

This 2004 Article IV Consultation highlights that impressive growth continued unabated in Lithuania in 2004. GDP expanded by an estimated 6¾ percent in 2004, driven by vigorous private consumption and investment growth. The unemployment rate declined to 10½ percent of the labor force but bottlenecks have developed in certain sectors, exacerbated by migration flows to the European Union (EU) and the United States. Structural reforms continued in 2004, but deeper reforms remain necessary to keep Lithuania on a real convergence path with the EU.