Analytics, Economics, GDP, Latvia
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PM: latest GDP stats in Latvia cause for optimism
Nina Kolyako, BC, Riga, 11.05.2010.
Print version
Print versionThe latest gross domestic product (GDP) figures prompt one to look to the future with optimism and predict further improvement, commented Prime Minister Valdis Dombrovskis (New Era) yesterday.
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| Valdis Dombrovskis. |
GDP's 6% decrease in the first quarter was less than projected, and this must be interpreted as confirmation of the economy's flexibility and yield from reforms and the fiscal consolidation program, the so-called internal devaluation, the premier stated.
The Finance Ministry, in reaction from its part, pointed out that operative monthly statistics on industry, retail, tax revenue and foreign trade indicated that the plunge in economic activity has stopped, writes LETA.
The state economy is gradually recovering from recession, the ministry added.
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