According to Gitanas Nauseda, advisor to the bank's president, the country's first-quarter GDP growth rate may exceed 4%.
"Our model shows that GDP growth in the first quarter of this year may be at 4.2%, but to be on the safe side, I'd say we will have a 3%-plus growth rate, which would be a good rate, given out 2% growth in the past quarters," Nauseda said while presenting SEB Bankas' latest macroeconomic report on Thursday.
That faster growth is due to a favorable comparative statistical base, but that does not mean that the economy is in full blossom," he added.
The bank also sticks to its 3.2% Lithuanian GDP growth forecast for 2017.
Based on SEB's latest forecasts, Lithuania will be the fastest-growing Baltic economy this year, with Latvia and Estonia expected to record 2.7% and 2.4% GDP growth, respectively.
Latvia is expected to be the fastest-growing Baltic economy in 2017 with 3.5%. Estonia's economy is forecast to expand by 3% next year.
The bank's analysts predict that average inflation in Lithuania will reach 0.3% this year and will accelerate to 1.2% next year. Unemployment is projected at 8% and 7.7%, respectively. Average wages are expected to growth by 7 and 6%, respectively.
The general government deficit is forecast to reach 1% of GDP this year and to narrow to 0.5% next year. Goods exports are expected to rise by 3.5 and 5%, and goods imports by 2 and 6%, respectively.
