Our GDP growth forecast for Latvia for 2017 stands at 2.5%. Private and particularly public investment activity will rally. The inflow of EU funds is expected to amount to 2.6% of GDP this year. After a steep decline in recent years, exports to Russia have again started to increase. Household consumption has developed rapidly and will continue, due to rising real wages. In both 2018 and 2019, we expect a further upswing in GDP growth to 2.7% and 2.8%, respectively.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||1994||1978||1961||.||.||.|
|GDP, real change in %||2.1||2.7||1.9||2.5||2.7||2.8|
|GDP per capita (EUR at PPP)||17500||18600||19400||.||.||.|
|Gross industrial production, real change in %||-1.0||3.6||5.4||.||.||.|
|Unemployment rate - LFS, in %, average||10.8||9.9||9.6||9.2||8.8||8.4|
|Average gross monthly wages, EUR||765||818||850||.||.||.|
|Consumer prices, % p.a.||0.7||0.2||0.1||1.8||2.1||2.3|
|Fiscal balance in % of GDP||-1.6||-1.3||0.0||.||.||.|
|Public debt in % of GDP||40.9||36.5||40.1||.||.||.|
|Current account in % of GDP||-2.0||-0.8||1.5||0.0||-1.1||-1.7|
|FDI inflow, EUR mn||813||684||162||.||.||.|
|Gross external debt in % of GDP||143.0||141.6||144.7||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
LATVIA: EU funds push up growth rate
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 86-88 Details and Buy
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure