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Right at the beginning of the report, the economist claimed that Lithuania had created a real economic miracle. He stated that he knew even before that Lithuania would be really good this year, and his opinion, as he claimed, was then the opposite of what other institutions had said.
As you said, the European Commission predicted a completely different economic situation for Lithuania: our GDP had to fall more than the average of the EU and most of the Baltic countries.
“And how was it? You see, Mauricio predicts something well.
The EC incorrectly predicted, the reality is that Lithuania’s GDP fell less than the EU average, we fell less in the Baltic States, “he said.
Other pessimistic scenarios, he said, that were discussed in the spring were related to the wave of emigration, but even in this case, the economist said he was right.
“Contrary to the previous crises, this year we have a large flow of immigrants to Lithuania. 7 months have passed and we have almost 4 thousand of them,” he said at the conference.
Continuing the EC narrative, that was heard in 2020. In Lithuania, wages are supposed to drop 8.2 percent. <...> The result is +8 percent. The Sodra data shows that growth can accelerate even more, “said Ž. Mauricas.
The fourth miracle, as he called it, is related to the Lithuanian real estate market (RE), as it did not react to the situation in the country.
“Rental prices in Lithuania have not even come down, unlike in Latvia or Estonia, they probably won’t go down much. <...>
The housing market activity, if we look at it, is pretty good. We go back to 2018-2019. level, ”said the economist.
The fifth miracle he mentioned was that instead of the expected severe drought of EU money, we had a shower of EU money. However, as emphasized, the challenge today is how efficiently that money will be used.
The sixth miracle, according to him, is the confidence of Lithuanian consumers, it is extremely high and the best in the entire euro area.
“This means that Lithuanians are very optimistic about their financial prospects.” They plan to spend large sums of money on large purchases in the next six months, “said the economist.
He mentioned one more thing: two years ago at this conference, he said maybe in 2025. Lithuania will catch up with the West.
“I said that we would be as close to them as ever, reaching the 16th century. level, but we already reached it this year.
All because that crisis is very unusual for us. We are used to the fact that if there is a crisis, we are falling more than the rest of Europe and vice versa. We have caught up with Western Europe and now our GDP per capita is 86% in the first half of the year. EU average that has never existed in our history.
If you hear someone complain about a bad life in Lithuania, ask them and when was it better, ”he said.
The economist also said that the world and Lithuania will change in the near future. The first one he named was about working from home.
Ž. Maurice assured that this would become the norm, not the exception. He gave the example that around 60% worked in New Zealand remotely during the crisis. of all employees, which means that all the technological possibilities for working from home are already available.
The economist mentioned another change: not only work from home will be important, but also the fact that products and goods can come directly home, that is, electronic commerce.
“You are online, you order, the berries arrive,” he gave an example.
The economist also added that there will be changes in the choice of residence, as residents will increasingly move to places where it is good for them to live.
“It’s the riverbanks, beautiful landscapes, not necessarily the city center,” he predicted, referring to the “debut” of the real estate market.
“To be continued, you can see for yourself what is happening, more houses are being built than apartments,” added the economist, who said that small apartments will be replaced by medium-sized apartments consisting of 80-100 m2. tide.
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