EconomyAnalysts at SEB Bankas, Lithuania's largest commercial bank by assets, expect that a decline in the global oil supply will keep crude prices more stable this year and forecast that the average oil price in 2016 will stay above 40 US dollars per barrel. SEB Bankas, Lithuania's largest commercial bank by assets, has kept its Lithuanian GDP growth forecast for 2016 unchanged at 2.8%. Akropolis Vilnius is the most efficient among the largest shopping centers in Lithuania. Swedbank Latvia in the first quarter of 2016 posted EUR 28 million in profit, up 19% from the respective period last year. The increase is driven by income growth and higher net recoveries, said the bank’s spokeswoman Vineta Savicka. Swedbank in Lithuania said that its first-quarter net profit rose to 22 million euros, up 3% from 21 million euros a year earlier and the Estonian unit of Swedbank made a profit of 45.5 million euros in the first quarter 2016, 23% more than in the first quarter of 2015. he share of environmental taxes in Lithuania's total tax revenue is below the EU average, figures from the EU statistical office Eurostat showed on April 22nd. Lithuania's gas pipeline construction company MT Group and Germany's gas pipeline group PPS Pipeline Systems have won a contract worth 11.181 million euros in Lithuania, including VAT, to implement a gas pipeline control system that helps detect damages in pipelines. DNB Bankas, one of Lithuania's largest commercial banks, has revised its forecast for the country's GDP growth for 2016 up by 0.2 points to 3%. Statistics Lithuania informs that in March 2016 industrial production totalled EUR 1.5 billion at current prices and, compared to February, decreased by 3.5% at constant prices (seasonally and calendar unadjusted – increased by 2.3%). According to provisional data of Statistics Lithuania, in 2015, the general government deficit totalled EUR 77.6 million, or 0.2% of gross domestic product (GDP). Over the year, the general government deficit decreased by EUR 173.5 million (in 2014, this indicator stood at 0.7% of GDP). Consolidated revenue of Lithuania's integrated telecoms, IT and TV services provider Teo LT, and Omnitel mobile operator grew by 2% to 82.5 million euros in the first quarter of 2016 year-on-year. |
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