In Lithuania we focus on:
Supporting investments in renewable energy and energy efficiency. The EBRD continues to focus on promoting and financing new renewable energy generation and improving energy efficiency particularly in municipal and industrial sectors.
Improving the competitiveness of the export sector. The EBRD is promoting cross-border investments by Lithuanian companies elsewhere in our region and supports export-oriented enterprises with a focus on investments in advanced technologies. Investments in regional equity or mezzanine funds are also being considered.
Support strengthening of local banks. The EBRD is supporting the local banking sector, focussing on strengthening sector stability and promoting consolidation.
Policy dialogue. We are conducting policy dialogue with the Lithuanian authorities to support improvements in corporate governance in the financial and public sectors.
As well as being a country where the EBRD works, Lithuania is also an EBRD donor. Lithuania remains a supporter of the Eastern Europe Energy Efficiency and Environment Partnership Fund, having paid €105,000 for activities in Armenia, Georgia and Moldova.
The EBRD’s latest strategy for Lithuania was adopted on 10 February 2016.
EBRD forecast for Lithuania’s real GDP growth in 2016 3.0%
EBRD forecast for Lithuania’s real GDP growth in 2017 3.1%
Growth in 2015 was slightly below our expectations, at 1.6 per cent. It was substantially supported by higher investment expenditures, of which the increase of above 10 per cent has been the highest since 2011. Exports to Russia saw a further decrease and their share in total exports fell from 20.9 per cent in 2014 to only 13.7 per cent in 2015.
While our growth expectations for this year remain unchanged, at 3 per cent, the expected faster Eurozone recovery and a greater number of investments co-financed by the EU will likely provide additional boost for growth in 2017.