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Friday, 26.04.2024, 16:36
Latvian FinMin: inflation level to be lower than 0.8% in 2015
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Taking into account the low oil prices, inflation could be around 0.4%.
The committee's deputies were acquainted with the Finance Ministry's report on the 2016 state budget project and mid-term budget revenue forecast. The ministry's representatives also informed the deputies on Latvia's economic development and risks.
In discussing export trends, the Finance Ministry's representatives indicated that in the first eight months this year, Latvia's exports grew 1.8%, mostly thanks to higher export of mechanical devices and wood. The volume of exports to Russia reduced this year, while exports to the European Union countries increased. Meanwhile, growth in export of services was facilitated by tourism and financial services.
Deputies were also informed about the potential risks that could be related to further deterioration of the geopolitical situation, economic downturn in Russia, and the negative effects of ruble fluctuations.
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