IMF report on Lithuania: Strong growth set to continue
In its latest assessment of Lithuania’s economic conditions, the International Monetary Fund (IMF) has praised the country’s strong economic fundamentals and forecast robust growth going forward.
The report highlighted impressive growth over the past 5 years, and noted that real GDP has reached its highest ever level.
According to the report, despite the presence of external risks, ‘sustainable growth in the face of external challenges shows the strong basis of the Lithuanian economy and is a good sign for the future.’
The IMF believe Lithuania is now more financially stable thanks to its smooth entry into the Eurozone at the beginning of 2015 and to important updates in key political programmes.
According to Minister of Finance Rimantas Šadžius, the Lithuania has maintained a coherent approach to enhancing fiscal discipline, with the aim of regulating public finances and managing the economy of the country. It is this coherence that has ensured the positive results identified by the IMF.
In accordance with Article IV of the Articles of Agreement of the IMF, Lithuania holds annual consultations with the IMF. The European Department of the IMF last paid a visit to Lithuania on 19-31 of March this year. Lithuania has been a member of the IMF since 1992; the international finance organisation has a total of 188 members.