International Internet Magazine. Baltic States news & analytics
Sunday, 09.03.2014, 19:38
Latvia recorded 3.6% economic growth in the last quarter of 2013 as compared with the fourth quarter of 2012, which was the second-fastest growth in all of the European Union member states for which data are available, according to the EU statistical office Eurostat release. Romania registered the fastest economic growth of 5.1%, whereas Latvian and Lithuanian economies increased by 3.6%, writes LETA.
Keyword tags: Analytics, Economics, EU – Baltic States, GDP
Latvia must try to maintain its defense spending at least at the current level, believes Prime Minister Laimdota Straujuma (Unity), informs LETA.
As the investors are setting the capital back from Russia and are selling the shares as well as the local currency, we can see the slowdown of the growth of the economy for several quarters in a row. According to the Danske Bank's analysts in Lithuania, this could take away up to 1% of the growth of the country's gross domestic product (GDP) in 2014, informs LETA/ELTA.
A marked recovery in domestic demand – both investment and consumption – are offsetting the impact of worse industrial performance on the development of the domestic economy; therefore, the Bank of Lithuania projects GDP growth to be 3.6% in 2014 and 3.8% in 2015, writes LETA/ELTA.
The winter 2014 European Economic Forecast published by the European Commission on Tuesday predicts that Lithuania's GDP will grow by 3.5% in 2014; it is lower by 0.1% compared to the autumn forecast, yet it remains the second highest growth predicted in the European Union (EU), informs LETA/ELTA. The highest economic growth is forecasted for Latvia.
The Bloomberg financial news agency has calculated that thanks to the four Olympic medals won at the Sochi Olympics, Latvia is in second place in the Olympic medal standings when comparing medals won to gross domestic product (GDP), informs LETA.
Data of the Ministry of Finance shows that in late 2013 Lithuania's public debt ratio to GDP was lower than that a year ago and amounted to 39.4% of GDP (in 2012 it stood at 41% of GDP), informs LETA/ELTA.