For the third time this year, Lithuania's Finance Ministry has upped its GDP growth forecast for 2002 – on this occasion from 4.7% to 5.1%. The forecast for average annual inflation has meanwhile been lowered to 0.8% from 1.2%. The ministry said the latest forecast takes into account economic growth rates in the first half of the year, the current economic situation and observed trends. The country's projected GDP growth rate for 2003 is 4.9%, 5.4% in 2004 and 5.6% in 2005. Lithuania's GDP grew 5.9% in 2001.

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