RIGA-
In a recent publication, Nordea bank estimates Baltic GDP's to fall in the
upcoming year.
In
addition to the negative GDP outlook, Nordea bank predicts that budget
deficits will grow and exports will fall. However,
the negative predictions are not just limited to the three Baltic states, Nordea
also predicts that Finland
and Sweden
will see a shrinking GDP.
Nordea
predicts that Latvia and Lithuania will fair better than Estonia with exports falling 2 percent as
opposed to Estonia's
5 percent in 2009.
Lithuania is also
predicted to fair better in terms of GDP decline at 3 percent, while Estonia is
estimated to fall 4.5 percent.
Latvia
is predicted to fair the worst with a decline of 6 percent. The bank is
predicting the decline will continue into 2010.
However,
Scandinavian countries Finland
and Sweden's
GDP will still see some shrinking as well, but levels will remain under 2
percent.
