International Internet Magazine. Baltic States news & analytics
Monday, 27.06.2016, 01:34
The aviation and associated industries made up 2.5% of Latvia's GDP in 2014, or EUR 585 million, as Olegs Baranovs, Director of the Economy Ministry's National Economy Structural Policy Department, said at an aviation industry forum today, cites LETA.
Nordea has cut its gross domestic product growth forecast on Estonia to 1.9% for 2016, compared with an estimate of 2% published in the spring economic forecast, informs LETA/BNS.
The central Bank of Lithuania has not revised the gross domestic product (GDP) growth forecast for the year 2016, however, slightly reduced the economic development forecast for 2017. According to the forecast, the country's economy will expand by 2.6% this year and by 3.3% next year, informs LETA/BNS.
The economic growth of Estonia can accelerate to its potential speed first and foremost through improvement of the external environment, which requires more robust supporting of aggregate demand with macroeconomic policies because for the private sector the present demand environment remains weak and insecure, the Ministry of Finance said on June 9th, cites LETA/BNS.
According to the revised estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 1.7% in the 1st quarter of 2016 compared to the 1st quarter of the previous year.
The Bank of Estonia (Eesti Pank) said on June 8th it has cut Estonia's economic growth forecast for 2016 by 0.4 percentage points to 1.8%, and described overheating of the labor market as a risk to the economy, reports LETA/BNS.
Data compiled by the Central Statistical Bureau show that in the 1st quarter of 2016, compared with the 4th quarter of 2015, GDP at constant prices, according to seasonally adjusted data, increased by 0.1%. In the 1st quarter of 2016 compared with the 1st of 2015, GDP grew by 1.5% according to seasonally adjusted data, and by 2.1% – according to seasonally non-adjusted data.