The European Commission (EC) announced in its Spring 2015 Economic Forecast that Lithuania's gross domestic product (GDP) is expected to grow by 2.8 percent, whereas domestic consumption should be the major factor determining economic growth.
"Expected pick up in investment is set to boost real GDP growth to 3.3 percent in 2016. Inflation remains low. The improvement in public finances is expected to pause in 2015," the EC report reads.
In February the EC forecast that Lithuania's economy would grow by 3 percent. Based on the la