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Danske Bank raises Latvia's GDP forecast to 3.3% in 2012
Nina Kolyako, BC, Riga, 10.08.2012.
Print version
Print versionDanske Bank has raised Latvia's gross domestic product (GDP) forecast for 2012 to 3.3%.
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The initial GDP estimates of the second quarter indicate that Latvia's economy continues to grow steadily. Even though the GDP growth slowed down, it remained the strongest in the European Union, points out Danske Bank Senior Baltic Economist Violeta Klyviene, informs LETA.
"We consider the extremely good results of the first quarter as a temporary factor and expect that negative trends on external markets will leave a certain impact on internal demand, Taking into account the excellent results of the first half of 2012, we upgrade the GDP forecast and expect that Latvia's economy will grow 3.3% in 2012, informed Klyviene.
Danske Bank previously predicted that Latvia's economy will grow by 2% in 2012.
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