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Brighter outlook seen in economy

  • 2013-09-12
  • From wire reports

VILNIUS - The financial situation of Lithuania’s residents keeps improving, with signs of an improving financial situation observed in households with the lowest incomes. In general, though, there are no changes in the general statistics of overall household financial assets and liabilities, reports ELTA.

According to the survey, conducted by SEB, favorable economic conditions enabled households with higher incomes to take advantage of emerging financial opportunities: more new loans have been issued, retail turnover rates have increased. Moreover, though the amount of deposits has also increased, it was more a seasonal phenomenon than a returning need for security.

In the opinion of Julita Varanauskiene, family finance expert at SEB Bank, one sign of an improving financial situation is that people tend more to take out loans rather than to pay off them.
According to Varanauskiene, the economic environment should not worsen: a faster rise in the average salary, a fall in unemployment and low inflation are expected in the nearest future.