Latvia Economic Outlook
October 25, 2016On 13 October, the government approved Latvia’s 2017 budget draft, which will be presented to Parliament at the end of this month. The bill envisages a fiscal deficit of 1.1% of GDP next year and focuses spending on three major sectors: national security, healthcare and education. Rather than planning considerable tax adjustments, the government intends to meet its headline revenue figures by stepping up efforts against the shadow economy and withdrawing from international reserves.
Latvia Economy Data
5 years of Latvia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.09||0.53 %||Oct 26|
|Stock Market||721||1.59 %||Oct 26|
Latvia Economic Growth
October 25, 2016Latvia’s economic growth outlook for 2016 is feeble. While private consumption will continue to underpin growth, declining fixed investment and weak foreign demand will weigh heavily on the expansion. Analysts expect Latvia’s economic growth to fall from 2.7% in 2015 to 2.0% in 2016, which is down 0.1 percentage points from last month’s forecast. Next year, analysts see the economy gaining momentum and expanding 3.0%, due to a rebound in fixed investment on the back of higher inflows of EU funding.
Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.