Latvia: EBRD predicts rapid economic growth

European Bank for Reconstruction and Development (EBRD) has maintained Latvia’s GDP outlook for 2021 unchanged. The country’s economic growth is expected to be the most rapid among the Baltic States. The bank’s latest outlook estimates Latvia’s economic growth to reach 3.5% this year. Commenting on this year’s outlook, EBRD notes that the slow speed of…

Latvia: EC approves Recovery and Sustainability Plan

The European Commission has approved Latvia’s submitted Recovery and Sustainability Plan worth EUR 1.8 billion, as confirmed by EC representatives. New the European Council will need to approve the plan. Latvia’s plan for recovery and sustainability was submitted to the European Commission on April 30 for the entire available amount – EUR 1.826 billion. This…

Latvia: grey economy reaches 25.5%

Last year grey economy in Latvia increased by 1.6% YoY, reaching 25.5% of the country’s GDP, as reported by Stockholm School of Economics in Riga business center director Arnis Sauka at a press-conference dedicated to grey economy. He said that the grey economy had increased since 2021 and this was not a good thing. “If…