Lithuania bucks trend to instead predict higher economic growth

bank-of-lithuania

The Bank of Lithuania on Thursday predicted more rapid economic growth for 2011 following the recovery of domestic consumption and investment.

"According to the latest estimates from the Bank of Lithuania, approved by the Board, the country's real gross domestic product will increase to 6.2% this year," said the central bank. In May, the figure was forecast at 5.6%.

Private investment has started to show growth and businesses are purchasing machinery, equipment, vehicles and buildings, according

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