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Thursday, 26.05.2016, 21:26
Latvian Fiscal Discipline Council criticizes plan about putting off creation of fiscal security reserve26.05.2016
The suggestions to wait with creation of the fiscal security reserve will bring Latvia closer to a new crisis, the Fiscal Discipline Council warned, cites LETA.
Keyword tags: Budget, Financial Services, GDP, Latvia, Legislation
Latvia’s gross domestic product (GDP) growth in 2016 is projected at 2.7% and in 2017 at 3.5%, said SEB Banka’s economist at the presentation of Nordic Outlook on May 24th, cites LETA.
The European Forecasting Network (EFN) is a research group of European institutions, founded under the auspices of the European Commission, and currently partly financially supported by the European University Institute (EUI, based in Florence, Italy), which is coordinating the report under the responsibility of Prof. Massimiliano Marcellino.
The Norwegian financial services group DNB is forecasting in its fresh economic outlook that Estonia's economy is to grow 2% in 2016 and 2.7% in 2017, informs LETA/BNS.
Economic growth in the first quarter of 2016 was more balanced than before, and in the future the decrease in domestic consumption is to be replaced by an increase of investments and foreign demand, the Bank of Estonia said LETA/BNS.
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 1.7% in the 1st quarter of 2016 compared to the 1st quarter of 2015.
The size of shadow economy contracted to 21.3% of GDP in Latvia last year, but increased in Lithuania and Estonia, according to the latest study on the Baltic States' shadow economies conducted by the Stockholm School of Economics (SSE) Riga, cites LETA.