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Tuesday, 24.01.2017, 17:18
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.
The current account surplus diminished in the first half of the year, but in the third quarter it was again bigger than at the same time last year. One cause of the increase in the surplus was the broad-based acceleration in growth in exports of goods and services. At the same time, preliminary estimates show investment to have been less in the third quarter than at the same time a year ago, which held back growth in imports.
The surplus on the current account of the Estonian balance of payments reached a record level in the 3Q09.12.2016
The current account surplus was 289 mln euros in the third quarter of 2016, or 5.5% of GDP, having been 3.3% of GDP in the third quarter of 2015. The increase in the surplus was backed by growth in the surplus on goods and services and a reduction in the net outflow of investment income Exports of goods were 4.3 bln euros, and exports of services 3.9 bln, as exports grew at an accelerating rate. The net outflow of investment income fell by 15%.
The outlook for property & casualty (P&C) insurance globally is stable for 2017, as premiums are expected to grow in line with GDP while pricing and investment headwinds remain, Moody's Investors Service says BC.
n the third quarter of 2016 the current account had a surplus of 93.4 mil. euro (1.5% of gross domestic product (GDP)).
Data compiled by the Central Statistical Bureau show that in the 3rd quarter of 2016, as compared to the 2nd quarter, gross domestic product (GDP) at constant prices increased by 0.2%, according to seasonally and calendar adjusted data.