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Thursday, 28.03.2024, 16:25
Highest business confidence recorded in Riga, Kurzeme
Citadele bank economist Martins Abolins told the press on Friday that confidence can now be
observed in all areas of business. For the fourth consecutive quarter, Citadele Index exceeds 50 points,
reaching 51.44 points in the third quarter of this year, having improved by
5.77 points over the year.
Business confidence was rated at 52.46 points in Riga,
52.19 points in Kurzeme. Less upbeat sentiments were recorded in the
northeastern province of Vidzeme (51.93 points), southern Zemgale province and
the Riga Region rated slightly above 50 points, while eastern Latvian province
of Latgale rated 47.31 points.
According to Abolins, business representatives are
positive about economics and their own finance. Business confidence about
overall economic situation in the country has improved considerably.
There is optimism in all sectors, according to
Abolins, including the construction sector (52.84 points), manufacturing (52.53
points), trade (51.33 points), services (50.94 points).
The economist said that 2017 has been the most
successful year in the post-crisis period.
At the same time, there is huge difference between
sentiments of small and large enterprises. Large companies rated 59.83 points,
while small companies are still pessimistic and their rating reached 49.49
points.
Development Financial Institution Altum board
member Inese Zile said that investments are important for company.
In the third quarter of this year the guarantees issued by Altum exceeded EUR
100 million which historically is the largest guarantee portfolio. Zile
expected the loan guarantees to keep growing also next year.
The Citadele Index is based on a survey of 750 company owners
and business executives, representing firms of different sizes doing business
in different industries. The index is published quarterly since 2004. SKDS
pollster carries out the survey for Citadele Bank.