The Baltic countries continue to be the European Union's growth leaders. Economic development of Estonia, however, has slowed down significantly this year due to a fall in export and investment volumes. Estonia's GDP growth is therefore predicted at 2.6% in 2014 and 2.9% in 2015.
Latvia and Lithuania will continue to display robust growth – 4.5% to 5% and 3.5% to 4.5% respectively, said Gaspuitis.
"In all three countries, private consumption is the main force driving growth at the moment, based on solid increase in real income. Finally, given the low inflation this fall, the probability that Lithuania will be the last of the Baltic countries to join the eurozone in 2015 is very high," added Gaspuitis.