Analytics, Economics, Investments, Latvia, Rating

''We expect the Latvian economy to grow by close to 3% on average over 2014-2017. The fiscal position will remain strong with debt levels trending downward. We are therefore affirming our 'A-/A-2' ratings on Latvia. The stable outlook reflects our view that risks to the ratings are balanced,'' the ratings agency pointed out.

''The affirmation reflects our expectation that the Latvian economy will continue to expand, with growth averaging 3% over 2014-2017, while net general government debt declines to less than 30% of GDP by 2017. The stable outlook balances Latvia's strong fiscal position against its relatively low per capita income levels as well as risks posed by the high level of nonresident deposits in the domestic banking system,'' the agency went on to say.