2006-11-03
The Board of the Bank of Lithuania approved the medium term macroeconomic projections.
The Board of the Bank of Lithuania approved the medium term macroeconomic projections.
| MEDIUM TERM MACROECONOMIC PROJECTIONS |
2006 |
2007 |
| Prices and costs | ||
| (annual percentage changes) | ||
| HICP |
3.9 |
4.0 |
| Private consumption deflator |
3.7 |
3.9 |
| GDP deflator |
5.7 |
2.2 |
| Compensation per employee |
13.4 |
10.7 |
| Import deflator (goods and services) |
8.5 |
2.0 |
| Export deflator (goods and services) |
5.0 |
4.7 |
| Economic activity | ||
| (at constant prices; annual percentage changes) | ||
| GDP |
8.0 |
6.7 |
| Private consumption |
10.8 |
7.5 |
| Government consumption |
4.1 |
2.4 |
| Gross fixed capital formation |
11.9 |
8.3 |
| Export (goods and services) |
17.0 |
8.6 |
| Import (goods and services) |
15.1 |
6.7 |
| Contributions to changes of GDP | ||
| domestic demand (excl. changes in inventories) |
10.8 |
7.6 |
| Net exports |
-1.1 |
0.2 |
| Changes in inventories |
-1.6 |
-1.1 |
| External sector | ||
| (as a percentage of GDP) | ||
| Trade balance (goods and services) |
-8.7 |
-6.0 |
| Current and capital accounts balance |
-7.1 |
-4.6 |
| Labour market | ||
| Unemployment rate (as a percentage of labour force) |
5.7 |
4.9 |
| Employment (annual percentage changes) |
1.4 |
0.6 |
The projections will be revised twice a year.
As part of the European System of Central Banks (ESCB), the Bank of Lithuania takes part in the work of the General Council of the European Central Bank and the committees and working groups of the ESCB. The medium term projections are presented to the ESCB working groups.