Analytics, Economics, GDP, Inflation, Latvia
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Wednesday, 24.04.2024, 22:00
Latvian Finance Ministry projects 2.1% growth in 2015; inflation forecast at 0.4%
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The government today heard an informative report from the ministry on the development of the national economy and the fulfillment of the 2015 budget.
The Finance Ministry points out that taking into account the tense and unstable geo-political situation in the region and their direct and indirect consequences, Latvia's GDP growth in the first quarter of the year can be seen as a positive signal. The ministry goes on to say that economic growth in 2015 will be at around 2.1%, but in 2016 could reach 3%.
The ministry also points out that the inflation level this year will also remain relatively low – 0.4%, but could increase to about 1.9% in 2016.
The Finance Ministry also goes on to say that domestic spending and retail trade will be the main engines driving economic development in the country.
As reported, the Economy Ministry projects Latvia's economic growth at 2% this year.
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