Based on the 2015 Stability Programme project, Lithuania's GDP growth is expected to rise consistently. GDP is projected to grow by 2.5% in 2015, by 3.2% in 2016, 3.5% in 2017 and 3.9% in 2018.
Structural government deficit (excluding one-off and other temporary measures), which based on preliminary data stood at 1.1% in 2014, should remain at a similar level both in 2015 and 2016, whereas in 2017 it is expected to decrease to 0.2% of GDP, while in 2018 a surplus of 0.1% of GDP is projected.
The general government deficit in 2014 was at 0.7% of GDP, the lowest since 2006. In 2015-2016 the Government will maintain economic stimulus measures, taking into consideration that risks for the economic development scenario remain and originate from uncertainty of economic environment.
Accordingly, in 2015, taking into account the approved expenditure plans, the general government deficit will amount to 1.2% of GDP. The general government deficit is projected at 1.1% of GDP in 2016. Whereas the government sector should be balanced as economic growth accelerates in 2017.
Government debt accounted for 40.9% of GDP in late 2014. Meanwhile it should account for 42.2% of GDP at the end of 2015, 37.7% in 2016, 39.4% in 2017 and 32.9% in 2018.
In 2015 a 0.4% average annual HICP deflation is forecast. While in 2016-2018 inflation should stand at 1.7, 1.9 and 2.2% respectively.
Unemployment which was stood at 10.7% in 2014 should decrease to 9.9% in 2015, 9.1% in 2016, 8.1% in 2017 and 7.1% in 2018. The average wage should grow in 2015-2018 by 4.9, 5.3, 5.7 and 6.2% respectively.
