Bloomberg News

Baltic Growth Forecasts Raised at Swedbank on World Outlook

April 24, 2012

Swedbank AB (SWEDA), the largest lender in the Baltic region, raised its 2013 economic-growth forecasts for Estonia, Latvia and Lithuania, citing a better outlook for global demand.

Estonia’s economy will probably expand 4.2 percent next year, compared with a January forecast of 4 percent, the bank said in an e-mailed report today. Latvia’s economy may grow 3.5 in 2013, while Lithuania’s gross domestic product may expand 4.3 percent, it said.

The bank also raised Latvia’s 2012 growth forecast to 2.5 percent from a previous estimate of 2 percent, the report said.

Swedbank also said Lithuanian chances to qualify for euro adoption as planned in 2014 have “significantly narrowed” because of consumer-price growth. The country is more likely to switch currencies in 2015, it said.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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