VILNIUS, March 28 (Xinhua) -- Lithuania's economic growth will remain robust in the medium term by 2021 provided the external environment remains stable, the country's Ministry of Finance said on Wednesday.
According to the ministry's report, which was presented on Wednesday at the parliamentary committee of budget and finances, Lithuania's gross domestic product (GDP) will grow by 3.2 percent this year and 2.8 percent next year, more than what was projected in autumn last year.
"External environment became more favorable due to increased activity of Lithuania's main trade partners. Investments and people's revenues continue to grow faster than expected," Migle Tuskiene, vice minister of finance, was quoted as saying by news agency Elta.
In her words, the ministry earlier expected the Lithuanian economy to grow by 2.9 and 2.6 percent this year and next year respectively.
The ministry projected the Lithuanian GDP to grow on average by 2.5 percent both in 2020 and 2021, provided the external situation remains favorable.
The situation in Lithuania's labor market will remain positive in the middle term, therefore, wages will grow on average 6.2 percent per year until 2021, while unemployment level is expected to decrease to 5.9 percent by 2021.
In 2017, Lithuania's GDP increased by 3.9 percent, the country's official statistics agency said in January.
