2012 will not be the best of times in Lithuania. The shadow of another possible recession looms large on the horizon. The continuing troubles in the eurozone and the inability of EU leaders to take forceful measures to resolve the crisis do little to encourage optimism. The government has downgraded several times its estimates for economic growth. It is now expecting the economy to expand by 2.5 percent, but a fall of 1-2 percent of GDP, if not more, seems rather likely.Recessions are not a stranger to Lithuania. The Lithuanian economy has endured three substantial downturns since the...
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