Last update: 27/06/2011

Economic forecasts for Lithuania

The Commission publishes macroeconomic forecasts for the EU and the Member States twice a year, in the spring (May) and in the autumn (November). These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN) and include a chapter on Lithuania.

DG ECFIN also produces more limited "interim forecasts" in February and September, wich contain one-year projections of GDP growth and consumer price inflation for the euro area, the EU and seven large Member States.

>> Macroeconomic forecasts and interim forecasts

Monitoring the budgetary situation in Lithuania

1. Assessments of Lithuania’s convergence programme

As required by the Stability and Growth Pact, at the end of each year Lithuania submits an update of the medium-term fiscal strategy it first presented in mid-2004. Euro area Member States submit stability programmes while countries outside the euro area submit convergence programmes. Based on an assessment by the Commission prepared by DG ECFIN, the Council adopts an opinion on each programme.

>> All programmes of Lithuania, Commission assessments, Council opinions, working documents

2. The EU Excessive deficit procedure and Lithuania

Currently, Lithuania is subject to an excessive deficit procedure.

>> Excessive deficit procedure for Lithuania

3. The Public finance report and Lithuania

The Commission’s annual public finance report prepared by DG ECFIN – entitled " Public Finances in EMU" – includes a chapter on Lithuania.

Lithuania and the euro

Lithuania has not yet adopted the euro as its currency. As part of the preparations to join the euro area, Lithuania is a member of the Exchange Rate Mechanism II (ERM II). It will join the euro area as soon as it fulfils the necessary conditions as defined in the 'Maastricht' convergence criteria.

Progress toward meeting these criteria is assessed by the Commission and the European Central Bank in regular convergence reports.

>>  Commission convergence report covering Lithuania
>>  Lithuania and the euro

Lithuania and economic policy coordination in the EU

As part of the Europe 2020 strategy for a smart, sustainable and inclusive EU economy, Lithuania reports each year on the implementation of its national reform programme (NRP).

>> National reform programme and Commission assessment

ECFIN publications and Lithuania

1. The EU and Lithuania

>> EMU@10 website
>> Enlargement, two years after - an economic evaluation (Occasional Papers 5/2006)

2. Country focus on Lithuania

>> Baltic convergence: steep and yet stable? (September 2005)
>> Is credit expansion in Lithuania a matter of concern? (June 2005)