Lithuania - Central bank projects substantial wage growth - March 31, 2017

The Bank of Lithuania projects that this year the economy will expand by 2.6%, while its growth rate next year will reach 2.8%. Wage growth, estimated to stand at 6.1% in 2017 and 5.7% in 2018, will outstrip the rising inflation rates. Such projections for economic and wage growth are higher than expected and announced at the end of 2016. In 2016, the average wage showed the highest increase since the economic recovery after the global financial crisis, reaching 7.9%. This was followed by an increase in minimum wage, yet wage developments were vigorous even having eliminated its effect.

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