Eurogroup chief praises Lithuania's swift economic recovery

  • 2024-03-25
  • BNS/TBT Staff

VILNIUS – Despite economic difficulties in recent years, including those caused by the war in Ukraine, Lithuania's economy has recovered swiftly and is now outpacing the average growth of the eurozone, Paschal Donohoe, president of the Eurogroup, said in Vilnius on Monday.

"Two years later (since the last visit to Vilnius in January 2022), inflation is falling, your economy is growing, and will grow again next year. And also at the same time, the levels of employment that you have maintained in your 

economy has been so high. These are really really remarkable achievements, given the fact that this economy has experienced all the early shocks of the war," Donohoe said after his Monday meeting with Lithuanian Finance Minister Gintare Skaiste.

"Despite those shocks, Lithuania is now going to have economic growth this year and next year, and it will be significantly ahead of the euro area average.

So, despite having been affected more than many economies in Europe, this is an economy that has a quicker recovery path," he added.