Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia

June 16, 2016

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Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia, (USA: International Monetary Fund, 2016) accessed November 25, 2024

Summary

This paper focuses on the key issues related to the economy of Latvia. Growth picked up somewhat last year despite a weak external environment. GDP growth rose to 2.7 percent, up about ¼ percent over the previous year. However, growth is expected to slow slightly in 2016 to 2½ percent. While Latvia continues to make steady economic progress, a key challenge will be to generate the growth necessary to sustain the pace of income convergence with Western Europe. Structural reforms will be required to improve state-owned enterprise governance and strengthen the business environment, upgrade public infrastructure, and modernize legal systems.

Subject: Banking, Credit, External debt, Income, Labor, Minimum wages, Money, National accounts, Wages

Keywords: Adjusted basis GDP, Authority, CR, Credit, EU rule, Europe, Global, Growth, IMF staff estimate, Income, ISCR, Latvia, Minimum wages, Non-resident deposits, Q1 GDP, Staff appraisal, Wages, Western Europe

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/171
Stock No:

1LVAEA2016001
ISBN:

9781498304467
ISSN:

1934-7685

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