The growing Fintech sector also contributes towards solving the structural problem of concentration in the Lithuanian financial sector. At the same time, business funding through crowdfunding platforms also gained traction. As pointed out in the EIB Investment Survey that will be presented here shortly, total investment in Lithuania rose to 5% above pre-pandemic levels by the end of 2021.
A similar pattern was observed in Latvia, while in Estonia investment in 2021 stood at staggering 30 to 40% above pre-pandemic levels. Increased investment and recovering consumption ensured that the Baltic economies recovered swiftly from the pandemic shock, with GDP growth in 2021 outperforming most of the previous forecasts.