/nginx/o/2024/03/31/15975663t1h2598.jpg?w=1200&resize=1200,630&ssl=1 "No one knows exactly what the severance of trade ties with Russia would mean for Latvia’s economy")
Since the full-scale killing of the occupiers in Ukraine, the export from Latvia to Russia has not changed much – even last year it amounted to over 1.2 billion euros. Meanwhile, imports decreased rapidly – from 1.8 billion in 2022 to 606 million last year. It is a small part of the total economy of … Read more
/nginx/o/2024/03/27/15969017t1h03f7.jpg?w=1200&resize=1200,630&ssl=1 "INFOGRAPHIC ⟩ Bank of Latvia lowers GDP growth forecast for this year to 1.8%")
The unemployment forecast is slightly increased for the near term due to weaker economic activity. For 2024, it has been increased to 6.5% and for 2025 – to 6.3%, while in 2026 the unemployment rate is expected to be at the previously forecasted level of 6.1%. The wage growth forecast has not been changed, the … Read more
He explained that the inflation forecast is most significantly affected by significantly lower global natural gas prices. On the other hand, the average annual inflation forecast for 2025 has been reduced to 1.9%, as opposed to the 2.3% forecast in December, while the inflation forecast for 2026 has remained unchanged at 1.8%. Rutkaste explained that … Read more
