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LDA: LITHUANIA EXPERIENCED SHORTEST GDP DECLINE AMONGST THE BALTIC STATES

Lithuania’s Ministry of Economy and Statistics Lithuania announced that Lithuania’s recession lasted only three quarters, in comparison with the six quarters in Latvia and Estonia.

Lithuania’s GDP showed an increase of 6.1 % in the 3rd quarter of 2009 versus the previous quarter (the steepest quarterly increase across the European Union) and a very moderate increase of 0.1 % in the last quarter of 2009, however the figures are positive, and it means that the Lithuanian GDP stopped falling.  In this case, according to the Ministry of Economy, Lithuania has suffered the shortest GDP decline amongst the Baltic States, and the market is recovering faster than economies of the other two Baltic countries.