Direct Speech

International Internet Magazine. Baltic States news & analytics Monday, 19.08.2019, 22:31

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Moderation in economic growth also affects labour market

Moderation in economic growth also affects labour market


Currently, Latvia's labour market tends to follow the trend of moderation in the annual economic growth. In the first half of the year, we already projected that the labour market developments will be affected by economic growth this year.

Keyword tags: Banks, Direct Speech, Economics, Financial Services, Labour-market, Latvia

There are signs within the strong labour market that the economy is cooling

There are signs within the strong labour market that the economy is cooling


The labour market remains favourable for employees. The unemployment rate was 5.1% in the second quarter. The number of short-term workers from abroad rose noticeably. Employers in industry have become more pessimistic about continued growth in employment.

The energy transition in the European political context

The energy transition in the European political context


There is a real need to connect two debates that are happening simultaneously in the European political space: the discussion around the 2050 decarbonization strategy and the issue of guaranteeing the daily energy security of our continent.

Latvia: Manufacturing sector growth increasingly constrained by wood industry

Latvia: Manufacturing sector growth increasingly constrained by wood industry


Growth in the manufacturing subsectors remains heterogeneous: in some subsectors, growth is hampered by weakening external demand, while others are still facing capacity-related issues on the supply side, i.e. the shortage of equipment and staff. Overall, however, the influence of external factors is becoming more pronounced.

Latvia: External environment remains overcast

Latvia: External environment remains overcast


The flash estimate for Latvia's economic growth in the second quarter, in a way, confirms that the GDP decline observed at the beginning of the year was caused by unfavourable development in some sectors on account of temporary factors (e.g. weather conditions) whose impact is likely to diminish by the end of the year.


Arthur Juksh: Interest in Our Loans is Very High

Head of the Lending Department of Rietumu Bank Arthur Juksh talks about significant changes on the financial market of the Baltic countries.


Latvia: Household deposits continue on a stable upward path

The data for June showed once again that the labour market situation, which has been favourable for employees for quite some time now, has affected household savings in banks.


Estonia: Corporate car leases picking up again

According to the banking statistics published today, the demand for loans was broadly in line with the average in June. There has been an increase in corporate car leases, though, as the value of car leases taken over the last year is up by 16%.


Estonia: Growth in corporate equity has slowed

The financial account statistics published by Eesti Pank today show that the growth in the equity of Estonian non-financial enterprises has slowed in the past year and a half. The yearly growth in equity was around 2.5% in the first quarter of 2019, which is half the rate of growth in corporate debt of a little over 5%.


How developments in global food commodity prices affect consumer prices in Latvia

According to Latvijas Banka research*, a 10% increase in global food commodity prices raises consumer prices by 0.9% in Latvia; and two thirds of a pass-through occurs during the first year after the global price shock. Therefore global food commodity prices are one of the main factors affecting inflation developments in Latvia.


Inaugural Address by President Gitanas Nausėda at the Seimas

Gitanas Nauseda has on Friday been sworn-in and assumed the position of president of the Republic of Lithuania.Below we give the first speech of the Lithuanian president in parliament. During a solemn parliament sitting, the new head of state put his hand on the Constitution and pledged to be loyal to the Republic of Lithuania and Constitution and to serve honestly and be equally just to everyone.


Latvia's export perspectives amid weaker external environment

Brexit, trade wars and subdued global economic growth are just a few of the international topics that have been hitting the headlines recently. Global developments, no doubt, play an important role also in Latvia's economic development; therefore, this article will look at the current situation in Latvia's trade partners and its implications for Latvia's exports.


Minister for Foreign Affairs Pekka Haavisto: EU enlargement is in the interests of Finland

Finland welcomes the efforts to integrate the Western Balkans, located at the very heart of the continent, into Europe.


Address by H.E. President of Latvia Mr Egils Levits Assuming the Office at the Saeima

“People create states themselves, and actual law of the people is based on the states,” passed an idea Mr Jānis Čakste in 1921. However, the power of the law of all people depends on our skills to take care of the common good of society.


Borrowing has become a little more expensive this year in Estonia

The average interest rate for housing loans granted in May was up on the previous month at 2.6%, as was that for long-term corporate loans at 2.9%. There has been a slight upward trend in interest margins in 2019, which can partly be explained by the shortage of competition in some segments of the loan market. Interest rates are also being affected by the assessments by the banks of the riskiness of individual lending projects.

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