Lithuania lowers growth forecast

  • 2010-05-13
  • Oskars Magone

VILNIUS -- The Lithuanian government has lowered its 2011 economic growth forecasts as the crisis continues to ravage the country.

The forecast was revised downward to 2.8 percent growth from the 3.2 percent estimate given earlier this year. The estimate was revised based on weaker domestic demand.

Lithuania's economy is now beginning to bounce back after the country suffered the European Union’s second-deepest recession that led to a 14.8 percent contraction last year.