Macroeconomic Forecast Lithuania

Signs of Lithuania's painful internal devaluation continue to abound, with the current account posting a EUR12.72mn surplus during the first quarter, in stark contrast to the EUR16.08mn deficit recorded during the same period 12 months earlier. This comes on the back of the current account balance flipping into a 3.8% of GDP surplus in 2009, following a 12.0% of GDP deficit in the previous year. We continue to project current account surpluses over the next four years, seeing the surplus narrowing slightly to 3.1% of GDP in 2010.

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