Analytics, Covid-19, Direct Speech, Economics, Latvia, Markets and Companies

"The lowest point in economy is behind - economic growth has resumed," said Kazaks, adding that some sectors are recovering faster, some lower, while some others do not show any signs of recovery yet.

He said that the economy is recovering because the spread of Covid-19 in Latvia has not been broad. 'Of course, if there is a drop in the world, our main export markets, the economy will slow down again," said Kazaks.

At the same time, he said that the Covid-19 story is not over. "Nobody knows what is going to happen in the world, but at present the lowest point is behind," said Kazaks.

He said that Latvia's gross domestic product in the third and fourth quarters this year will show a rise compared to the previous quarter. "Most believably, we will reach the edge of the pit at the end of 2021 or in 2022," said Bank of Latvia president.