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Thursday, 23.02.2017, 02:16
Latvia’s economic growth will accelerate to 3.2% this year and 3.4% in 2018, according to the Finance Ministry’s forecast writes LETA.
Keyword tags: Economics, Financial Services, GDP, Good for Business, Latvia
The Latvian economy showed a subdued growth of 1.6% in 2016, according to the Winter 2017 Economic Forecast released by the European Commission reports LETA.
According to the flash estimate of the Central Statistical Bureau (CSB), in the 4th quarter of 2016, compared to the 3rd quarter of 2016, the gross domestic product (GDP) value (seasonally and working days adjusted data) increased by 0.8%.
The past year was not very successful for the Latvian economy, Economics Minister Arvils Aseradens said on Latvian Radio this morning, citing LETA.
According to Governor of the Bank of Estonia Ardo Hansson, the additional stimulus of the government could have a short-term boosting effect on the economy, but in the long run it would reduce investments and the competitive ability of the government, reports LETA/BNS.