Although what I have just described is, I believe, the most plausible outcome, macroeconomic projections are inherently uncertain, and the economy remains vulnerable to unexpected developments. The Federal Reserve is already supporting the economic recovery by maintaining an extraordinarily accommodative monetary policy, using multiple tools.
The Bank of Lithuania stands ready to mobilise its expert capacities to help ensure that the plan advances a serious investment and reform agenda. This leads me directly to the long-term perspective. According to the latest data, Lithuania’s GDP decreased by 1.3% in 2020, beating the previous forecasts made both by the Bank of Lithuania and international institutions.