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Wednesday 19.02.2020 | Name days: Zane, Zuzanna

Latvian government to spend 14.5 billion euros on National Development Plan

In order to meet the goals outlined in Latvia’s National Development Plan 2027, the government plans to allocate funding of 14.5 billion euros, as journalists were told by the Cross-Sectoral Coordination Centre’s director Pēteris Vilks on Friday, 7 February.

Latvia’s gross domestic product increases 1.1%

Compared to Q4 2018, the gross domestic product (GDP) value increased by 1.1 % in Q4 2019 according to seasonally and calendar non-adjusted data.

Swedbank predicts 2.2% economic growth for Latvia in 2020

Latvia’s national economic growth in 2020 will rely on private consumption. Overall growth is expected at 2.2%, according to Swedbank chief economist Liva Zorgenfreija.

Water level rise in Baltic Sea named the most rapid in Europe in recent years

In recent years the water level rise registered in the Baltic Sea was the most rapid in Europe, and by the end of the year the average water level along Latvia’s coast may by half a meter higher than it is now, according to the outlook published by the European Environment Agency.

Productivity rise for Baltic company can be secured through innovations

In the next 12 months businesses in Latvia and Estonia have plans to increase productivity by developing innovations, whereas businesses in Lithuania have plans to do this by increasing production output, as concluded by SEB Bank’s survey among financial directors of major Baltic companies.

Outlook: Latvia’s inflation may have reached 2% - 2.3% in October

The level of consumer prices in Latvia may have increased by 2% - 2.3% in October 2019 when compared to the same month of the previous year, bank analysts predict.

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