Lithuanian PM warns of "difficult autumn" as Iran war impacts growth

Lithuania is facing a “difficult autumn” due to the economic consequences of the conflict in the Middle East, Prime Minister Inga Ruginienė has warned.

In an interview with Žinių Radijas on April 23, she said the government has already taken a series of measures to ease economic pressure, including reducing diesel excise duties and lowering the cost of railway tickets, Caliber.Az reports, citing Lithuanian media.

However, she noted that these steps will not be sufficient.

“A difficult autumn is approaching. Western countries are already forecasting a cut in GDP growth by half, and we will feel the impact too,” she added.

According to her, Lithuania will certainly not stop at reducing diesel excise duties, and “more measures will be needed in the autumn.”

The prime minister urged citizens to make greater use of public transport and electric vehicles amid rising costs.

Financial institutions in Lithuania have already raised inflation forecasts to between 3.7% and 6% amid global instability linked to the conflict involving the United States, Israel, and Iran.

By Bakhtiyar Abbasov