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Latvian FinMin reduces inflation forecast to 1.1% in 2014
BC, Riga, 01.04.2014.
Print version
Print versionExperts in the Finance Ministry have reduced the annual inflation forecast for Latvia this year to 1.1%, however, the annual inflation forecast for 2015 has been increased to 3%, Finance Minister Andris Vilks said during a Saeima Budget and Finance Committee meeting, cites the Latvian Institute.
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The annual inflation forecast has been revised because of Saeima's recent decision to postpone the opening of the electricity market, which would have seen a considerable rise in electricity tariffs.
The Finance Ministry initially predicted that annual inflation in 2014 will be at 2%.
Meanwhile, the economic growth forecast for 2014 remains at 4%, however, if relations between Russia and the European Union continue to sour, economic forecasts will be revised as well.
According to the Central Statistical Bureau, Latvia's GDP in 2013 increased 4.1%.
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