Destruction Of Productive Base To Continue

July 2009
Emerging Europe Monitor: Central Europe & Baltic States;Jul2009, Vol. 16 Issue 7, p11
Country Report
The article looks at the status of Latvia's production base and offers an outlook for 2009. Based on data released by Latvia Statistics, industrial output contracted by 23.4% year-on-year in March. It is expected that industrial output will have a full-year average contraction of 7.8% as a gradual improvement in global demand conditions is seen towards the end of the year. It is also noted that there is a risk that the government will prevent a devaluation of the lat against the euro in its effort to protect the private sector.


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