However, even in such circumstances, it would be unwise not to reflect on the post-pandemic world, which will be different – and we will have to adapt to it. Now is the time, therefore, to take a look at the long-term outlook, including Lithuania’s economic development in the long run.
Before the pandemic, the pace of economic convergence in Lithuania was among the most rapid across the European Union (EU). The rather rapid economic growth was underpinned by the lower value-added economic activities. For some time, such growth is, to a certain extent, inevitable, as conveyed in economic textbooks. However, sustainable and long-term convergence is not something to be taken for granted.