„If much of the world had negative surprises about (economic – ELTA) growth and unemployment, Lithuania was a positive surprise. In the first half of this year, Lithuania and Poland are the two fastest growing economies in the European Union,“ Mačiulis told Žinių Radijas on Monday.
According to the economist, Lithuania's situation is being improved by the central banks' plans to cut interest rates more quickly. For example, the markets are expecting the US Central Bank to cut base interest rates by up to 1% and the European Central Bank (ECB) to cut them by at least half a percentage point.
„Over the summer, we have seen more negative than positive economic trends in the world's major economies – the Eurozone, (...) the US, China. We are seeing a slowdown in economic growth, which is almost positive for us,“ said Mačiulis.
According to the economist, in the first six months of the year, consumer expectations in Lithuania were the best in the EU, while inflation was one of the lowest in the Community, in line with the rapid growth of wages.
„In the more than three decades of independent Lithuania, there has never been a period when Lithuanians felt so good about their financial situation,“ the Swedbank economist stressed.
According to Mačiulis, compared to other EU countries, manufacturing production in Lithuania grew by 5% over the year, while other major economies of the EU experienced a decline.
According to the State Data Agency's calculations, the annual inflation rate in Lithuania in July was 1.1% compared to the same period last year, while the inflation rate calculated according to the Consumer Price Index (VKI) was 0.9%.
