March 26, 2020 / 9:41 AM / 6 days ago

Lithuanian economy will shrink by 11.4% to 20.8% in 2020 - cbank

VILNIUS, March 26 (Reuters) - The Lithuanian economy will shrink will by 11.4% if a lockdown due to the coronavirus outbreak lasts for two months or by 20.8% if it is extended to four months, the country’s central bank said on Thursday.

This was a significant downgrade from forecasts published by the central bank only last week after the lockdown was announced, when it said it expected the economy to contract by 1.2%.

On March 17, Lithuania’s finance ministry said it saw the economy contracting between 1.3% and 2.8%. Its latest forecast, from September, was for growth of 2.4%. (Reporting By Andrius Sytas Editing by Francesco Canepa)

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