EU heading for recession

  • 2012-11-14
  • From wire reports
VILNIUS - DNB Bank analyst Mindaugas Jurgelis says that next year the European Union’s economy will probably not avoid recession, one which will affect Lithuanian enterprises as well, reports ELTA. Export growth will slow from this years expected 6 percent, to 3-4 percent next year.According to the analyst, this year Lithuanian exports were slightly better than expected due to favorable export geography.Although the crisis has undermined the eurozone economies, the countries to which Lithuania sells its production - Russia, Latvia, Estonia, Poland - so far have shown strong...
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