EBRD Lowers Economic Growth Forecasts for Baltic States
The European Bank for Reconstruction and Development has downgraded economic growth forecasts for all Baltic states due to high energy prices, despite stable consumer spending and increased investments.
The European Bank for Reconstruction and Development (EBRD) has revised downward its economic growth forecasts for Estonia, Latvia, and Lithuania for both this year and the next. According to the bank, while the Baltic economies continue to benefit from stable consumer spending, rising defense expenditures, and state investments, the region faces difficult conditions primarily due to high energy prices, which surged after the war in the Middle East. These factors have led to a more challenging economic environment, prompting the EBRD to adjust its previous projections. The exact figures of the revised forecasts were not disclosed in the announcement.
