July 2005
Emerging Europe Monitor: Central Europe & Baltic States;Jul2005, Vol. 12 Issue 7, p11
Country Report
Country Report
The article presents information on political and economic conditions in Latvia. Latvia has the lowest level of economic activity in the European Union (EU). Gross domestic product (GDP) per capita, adjusted for differences in purchasing power between countries, was about 43% of the EU average in 2004. The government is looking at ways to reduce the value-added tax (VAT) rate on food to 5%. A second proposal to postpone the planned introduction of VAT on heating is also under discussion, but may be frowned upon by Brussels. Compensation for low-income groups is also being considered.


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