VILNIUS, June 30 (Reuters) - The Lithuanian Finance ministry said on Tuesday it expected the economy to contract 7% this year, in line with its previous outlook, as the slump due to the new coronavirus pandemic weighed.
“We see the first signs of a recovery,” Finance minister Vilius Sapoka told reporters.
The new estimate compared with a forecast in March for a 7.3% contraction. Lithuania’s central bank forecast a 2020 drop of 9.7% in early June while the European Commission forecast a fall of 7.9% in May.
The Finance ministry’s last forecast before the novel coronavirus pandemic struck, from December, was for growth of 2.3%. (Reporting By Andrius Sytas; editing by Niklas Pollard)