Concerns of Latvian residents about a possible economic crisis and political instability in the country are gradually growing, according to results of ERGO Security Index study. Data shows the index has worsened a lot over the past three years: from -39 in 2014 to -48 in 2017.
“Concerns voiced by Latvians about the risks around them are often irrational. The Security Index is meant to measure how people feel living in this country,” explains SKDS Director Arnis Kaktins.
This year’s results also reveal changes in the mood of Latvian residents in relation to national stability and security. People’s concerns in this area, when compared to 2015, have declined (from -29 to -26). At the same time, one of the most often mentioned reasons for concerns is migration and the possibility of a military conflict. 64% of Latvian residents are concerned about a possible increase in the number of migrants and 62% are worried about a possible military conflict.
Residents’ concerns about a possibility of ethnic conflict in Latvia have declined by 15 index points since 2014.
“Developments in the country and the world affect decision-making processes – people are more careful about any long-term commitments. We felt that on the eve of Brexit events, when rates dropped significantly on the securities market – people became more careful about risks before signing contracts for savings in life insurance,” notes ERGO board member in Baltics Ingrida Kirse.
According to Kaktins, residents in Latvia often fear things for which there is no objective reason. This is partially affected by information reported by the media.
“ERGO Security Index shows that a quarter of Latvian residents, it turns out, fear earthquakes. It seems footage shown from foreign news about earthquakes and the destruction they leave has left an impression on people, causing subjective fear,” says Kaktins, commenting on results of the latest ERGO Security Index. (BNN/Business World Magazine)
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