Dizzying Heights

April 2005
Emerging Europe Monitor: Central Europe & Baltic States;Apr2005, Vol. 12 Issue 4, p11
Country Report
Country Report
The article provides information about the economic outlook of Latvia. Latvia's economy outpaced the rest of the European Union (EU) in 2004 and is likely to do so again this year. The current rate of growth is not sustainable and while the economy is expected to slow slightly this year, tighter macroeconomic policy may be required to alleviate mounting inflationary and current account pressures. The real Gross Domestic Product (GDP) expanded by 8.3% in 2004 due to booming domestic demand and acceleration in exports. Nonetheless, Latvia remains the EU's poorest member, with GDP per capita, adjusted for differences in purchasing power, almost 60% below the EU average.


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