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International Internet Magazine. Baltic States news & analytics Tuesday, 26.03.2019, 14:53

European Commission projects Latvian economy to show fastest growth among Baltic states in 2018

BC, Riga, 09.11.2018.Print version
The European Commission expects Latvia’s gross domestic product (GDP) to grow by 4.1% this year, which would be the fastest rate among the Baltic states, the Commission’s latest economic forecast shows, writed LETA/BNS.

In 2019, the European Commission projects Latvia’s economic growth rate to slow down to 3.2% and in 2020 to 2.9%.

Latvia’s annual inflation is forecast at 2.7% for this and next year. In 2020, Latvia’s HICP (Harmonized Indices of Consumer Prices) inflation is expected to drop to 2.4%.

Estonia is likely to show the second strongest growth in the Baltics, with its GDP growth for this year projected at 3.5 %. The growth of the Estonian economy will slow down to 2.8% in 2019 and to 2.6% in 2020, according to the European Commission’s forecast. Inflation in Estonia is forecast at 3.5% for 2018, 3.3% for 2019 and 2.5% for 2020.

Lithuania’s GDP is projected to grow 3.4% this year, 2.8% next year and 2.5% in 2020. Lithuanian inflation is forecast at 2.6 % for this year, 2.2% for 2019 and 2.1% for 2020.

The European Union’s economic growth is projected at 2.2% for this year, 2% for next year and 1.9% for 2020. The euro area is expected to show 2.1% growth this year, 1.9% growth in 2019 and 1.7% in 2020.

Inflation prognoses for the EU is 1.8% for 2018, 1.9% for 2019 and 1.7% for 2020. In the euro area, the inflation rate is projected at 1.8% for this and next year and 1.6% for 2020.

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