Analytics, Business, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 16:25

Highest business confidence recorded in Riga, Kurzeme

BC, Riga, 18.12.2017.Print version
Entrepreneurs in Riga and the western Latvian province of Kurzeme showed the highest business confidence in the third quarter of 2017, representatives of Citadele Bank told journalists citing the latest Citadele Index survey, cites LETA.

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.

 






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