Public Debt in Latvia
Latvia - Public Debt
Latvia reduces fiscal deficit ahead of EU-IMF schedule
On 8 June, the European Commission (EC) and the International Monetary Fund (IMF) approved the next loan program agreement with Latvia. This was part of the bailout the country secured two years ago, which allows the country to borrow up to EUR 100 million (USD 146 million). However, owing to the better-than-expected financial and fiscal position, the government decided not to borrow the agreed amount. In fact, in the fourth review under the Stand-by Arrangement, the IMF praised the government's strong spending discipline, which reduced the fiscal deficit to 7.7% of GDP in 2010, well below the 8.5% of GDP target. In addition, authorities anticipate that, on the back of the strong austerity measures adopted by the government in its December budget, this year's fiscal deficit will shrink below 4.5% of GDP. The unused funds are to be transferred to the next tranche, which will be released before the assistance expires on 19 January of 2012. Meanwhile, on 6 June, credit agency Moody's upgraded Latvia's credit outlook from stable to positive, citing the country's ongoing recovery, the consolidation of its public finances, as well as its progress towards meeting the criteria necessary in order to join the euro area.
Latvia - Public Debt Data
|Public Debt (% of GDP)||39.4||40.9||36.8||40.3||40.0|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.11||0.65 %||Nov 21|
|Stock Market||1,034||0.17 %||Nov 21|
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December 9, 2019
Consumer prices fell 0.3% from the previous month in November, swinging from October’s 0.4% month-on-month increase and marking the first contraction since July.
December 4, 2019
Industrial production jumped 7.0% in annual working-day adjusted terms in October, decelerating from September’s 7.3% jump which had marked the strongest expansion since February 2018.
November 29, 2019
GDP increased 2.9% in annual terms in the third quarter, according to a second estimate released on 29 November.
November 8, 2019
Consumer prices rose 0.4% from the previous month in October, accelerating slightly from September’s 0.1% month-on-month uptick.
November 4, 2019
Industrial production jumped 7.0% in annual working-day adjusted terms in September, accelerating from August’s 2.0% increase and marking the strongest expansion since February 2018.