No-deal Brexit could slow Lithuanian economy, president says

  • 2019-09-04
  • BNS/TBT Staff

BRUSSELS – Lithuanian President Gitanas Nauseda, currently in Brussels, warned on Wednesday a no-deal Brexit could slow Lithuania's economy.

"Currently, I have no such official statistics or official assessment on possible impact as everything depends on the scenario very much and specific conditions. But I think it might be calculated in tenth GDP percentage units," Nauseda told journalists, asked to comment on a no-deal Brexit's possible impact on Lithuanian economy.

British Prime Minister Boris Johnson has said he would take his country of the EU in late OIctober with or without an agreement. He faced a blow in parliament on Tuesday when both opposition and some conservative lawmakers took over Brexit control and paved the way for a vote on blocking a no-deal Brexit.

Nauseda hopes Britain's EU withdrawal will be smooth, despite the fact that Lithuania already made preparations for a "hard Brexit" back last spring when it adopted several dozen laws.

"We are ready to ensure the rights of both Britons living in Lithuania and also Lithuanians living in the UK, and also ensure certain business interests in bilateral economic relations," the president said.