International Internet Magazine. Baltic States news & analytics
Monday, 25.07.2016, 14:52
Macroeconomic imbalance procedure is an integral part of the European Semester and helps to make efficient the regular cycles of European economic policy coordination and governance. Estonia has been subject to in-depth reviews for the first time this year; Latvia and Lithuania are in a better situation.
Keyword tags: Economics, EU – Baltic States
The Latvian gross domestic product (GDP) may grow 2.8 % and inflation will be close to zero this year, the Economics Ministry said in its latest report on the macroeconomic situation in the country, informs LETA.
The United Kingdom's withdrawal from the European Union (EU) will have the biggest negative effect upon Lithuania among all countries of Eastern Europe, Standard & Poor's said in a statement, reports LETA/BNS.
Latest data of the Central Statistical Bureau (CSB) show that, during the year* (in June 2016, compared to June 2015) the average level of consumer prices decreased by 0.5 %. Prices of goods decreased by 1.2 %, while prices of services grew by 1.2 %.
Experts of the Institute of Economic Research (EKI) in June rated the current state of the Estonian economy with 5.2 points on a scale of 1 to 9, which is a 0.6 point improvement over March.
Latvia, Lithuania and Estonia has one of the lowest levels of resource productivity in the European Union, figures from Eurostat showed on Thursday
Data compiled by the Central Statistical Bureau (CSB) show that, compared to May 2015, in May 2016 industrial production output increased by 5.1% (according to calendar adjusted data at constant prices), of which in manufacturing – by 5.3%, in electricity and gas supply – by 4.8 %, whereas in mining and quarrying there was a drop of 2.9%.