Cover IMF Staff Country Reports
Republic of Lithuania: 2022 Article IV Consultation-Press Release; and Staff Report
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 251
Language:
English
Publication Date:
28 Jul 2022
DOI:
https://doi.org/10.5089/9798400214547.002
ISBN:
9798400214547
ISSN:
1934-7685
Pages:
54
Keywords:
potential GDP; wage-price spiral; price inflation; inflation development; foreign currency; Inflation; Energy prices; Loans; Wages; Real estate prices; Global; Western Europe
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The strong post-pandemic economic recovery was leading to an overheating economy and demand-side inflationary pressures. The war in Ukraine, including its impact on commodity prices, has, however, negatively impacted economic activity and further intensified inflationary pressures. With higher inflation for longer, policies should aim at preserving stability over the near-term while supporting the economy adapt to a higher interest rate environment over the medium-term. Although the current sociopolitical situation is less conducive to structural reforms, these remain key to ensuring sustained productivity growth that will support high wage growth and faster income convergence with Western Europe.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 251