May 2005
Emerging Europe Monitor: Central Europe & Baltic States;May2005, Vol. 12 Issue 5, p11
Country Report
Country Report
This section offers update on issues relating to political and economic risks in Latvia as of May 2005. The local government elections were held in Latvia on March 12, 2005. The People's Party and New Era, which form the government at the national level, had emerged as first and second in terms of the council seats won. The turnout was 52.9 percent. Gross-domestic product accounts released by the Central Statistical Bureau in March 2005 revealed that the economic growth had a record rate of 8.5 percent in real terms in fiscal 2004. According to Eurostat, the average cost of hiring workers increased by 11.4 percent in fiscal 2004.


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