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New data reveals larger GDP drop

Jun 04, 2009
By TBT staff

VILNIUS - A data revision has revealed Lithuania's economy shrank by more than previously thought in the first quarter, with the prime minister warning the contraction for 2009 could be as much as 15 percent, Reuters reported. "There are some signals the recession could be deeper than the last forecast of the Finance Ministry," Prime Minister Andrius Kubilius said of the original 10.5 percent contraction for the year predicted. The extent of the crisis was revealed when revised first quarter ...

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