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Monday 22.01.2018 | Name days: Austris
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SEB bank: inflation slows down Latvian growth

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2011 first quarter’s growth of the gross domestic product can be called slow and unsatisfactory, which is also reflected in the insignificant drop in unemployment. Whereas, Estonian economy expanded 8% and Lithuanian one – 6.9%, SEB economists say.

Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RUFlash estimate on the GDP unfortunately confirmed the previous forecasts of poor economic growth in the 1st quarter. Unconvincing commerce and industry already pointed to that. Second quarter performance is expected to demonstrate a little more convincing growth, however inflation dynamics will play a major role here, according to the economist.

In the first three months of 2011, compared to the corresponding period a year ago, remuneration grew in Latvia, however actual salary climbed only minimally due to the inflation. Moreover, purchasing power is expected to improve – only a little, though. Similarly, along with better economic conditions more investments flow into as well.

Commodities export hit new records in March, totalling over 500 million lats, yet it was mostly boosted by gaining prices of exportable goods, economists point out.

Unemployment keeps dropping gradually amid emigration and depopulation issues, but still it will not be enough with the current growth rates to solve structural problems, as the number of permanently unemployed, including experienced workers, is surging. Thus, the key focus will be on the employment policy of Latvia, experts stress.

 

 


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