Invalda INVL: minor recession possible next year, but Lithuania is well prepared

Investment management and life insurance group Invalda INVL projects that Lithuania’s gross domestic product (GDP) growth this year will be greater than forecast in spring, but Lithuania may experience a minor recession next year, yet the state and residents are prepared for it.

Based on the updated forecast, Invalda INVL expects Lithuania’s GDP to grow by 1.7% in 2022, rather than 1.3% projected earlier. However, in 2023, the Lithuanian economy might experience a small 0.5% recession.