As Presidential Candidate Vaitkus Rightly Points out, in Order to Stop the Collapse of the Lithuanian Economy, We Need to Restore Friendly Relations with All Countries in Our Neighborhood

    "The analysis shows that the competitiveness of the Lithuanian economy is indeed experiencing serious challenges and is decreasing in the region.

 

     "Our country's competitiveness model has long been based on low costs, and this also applies to attracting investments. Labor costs were significantly lower than in the West or even in our region, but we no longer have this advantage. Many states in our region can already offer lower labor costs than ours", says M. Stasiukaitis.

 

     "Looking at Lithuania's economy, we see that there are certainly many things that should be prioritized here and now in order to maintain Lithuania's growth trajectory. We no longer have assumptions that this growth will remain [...] We have to admit that we are in a new reality", says Elijus Čivilis, CEO of the "Invest in Lithuania" agency.

     According to the agency's assessment, the growth potential of Lithuania's economy is decreasing, and it will be more and more difficult for the country to attract investments in the future. According to the analysts of the "Invest in Lithuania" institution, when competing for direct foreign investments, Lithuania lags behind its main competitors - Poland, Hungary, and Romania, which invest large amounts of money in attracting investments. "Since the beginning of the conflict, a lot of black swans have appeared in Ukraine. Those swans are inflation, energy prices, disrupted supply chains," says E. Čivilis.

      "We have long positioned ourselves as a crossroads between East and West. "Suddenly we became some kind of periphery, surrounded by unfriendly neighbors who cast a shadow," he says."