Moody's: Sluggish times for Lithuania

Lithuania's Baa1 government bond ratings reflect its medium economic and high institutional strength, as well as its poor fiscal outlook and rising government debt, said Moody's Investors Service said it in a new report.

Moody's said it believes that Lithuania's economic strength has been damaged by the economic crisis and growth is unlikely to return to its previous pace in the foreseeable future.

Although the Lithuanian economy is beginning to stabilize, Moody's said it expects it will be sluggish for at least 2 to 3 years after the large contraction in 2009.

The agency said Lithuania's institutional strength is high, reflecting the progress made in strengthening the country's public administration and policymaking prior to European Union accession.

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