International Internet Magazine. Baltic States news & analytics
Friday, 30.01.2015, 02:23
The economy of Latvia is cooling, therefore specific measures need to be implemented in order to "warm it up", the Bank of Latvia President Ilmars Rimsevics said in an interview with the LNT show "900 sekundes" this morning, informs LETA.
Keyword tags: Analytics, Baltic States – CIS, Economics, GDP, Latvia, Markets and Companies
At his meeting with Jose Angel Gurria, Secretary-General of the OECD, on Wednesday in Tallinn, Estonian Prime Minister Taavi Rõivas stated that the growth in productivity and lowering labour taxes that are highlighted in the OECD report are also an important part of Estonian Government policy, reports BC the Government Communication Unit.
Latvia is ranked 37th in terms of economic freedom worldwide, according to the 2015 Index of Economic Freedom by the "Heritage Foundation" think tank and "The Wall Street Journal".
The European Central Bank announced recently a large program of quantitative easing (QE), involving a purchase of over €1 trillion of assets (mainly government bonds) in the euro-zone countries. It’s a huge change from a conservative ECB’s position in monetary policy with possible strong effect for economy and business in the three Baltic States.
Continuing geopolitical tensions in the East will continue to affect Lithuania's economy in 2015, says Nerijus Maciulis, Chief Economist of bank Swedbank. According to him, Lithuania's export to Russia will fall by at least 10%. Therefore, Lithuania's Gross Domestic Product (GDP) will grow less than projected earlier, 2.3%, reports LETA/ELTA.
Swedbank has reduced Latvia's GDP growth forecast for the year 2015 to 1.9%, reports LETA.
Swedbank announced in its fresh economic outlook on Tuesday that Estonia's economic growth forecast in 2015 was revised down to 2% from 2.5% it had forecast in November 2014, reports LETA.