Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia
IMF Staff Country Reports, June 16, 2016
Source details
- Canonical URL
- Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia
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Bibliographic details
- Published: June 16, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498304467.002
Economic growth and outlook
- GDP growth rose to 2.7 percent, up about ¼ percent over the previous year.
- Growth is expected to slow slightly in 2016 to 2½ percent.
- Growth picked up somewhat last year despite a weak external environment.
Key challenges and policy recommendations
- Principal challenge: generate the growth necessary to sustain the pace of income convergence with Western Europe.
- Structural reforms required:
- Improve state-owned enterprise governance.
- Strengthen the business environment.
- Upgrade public infrastructure.
- Modernize legal systems.
Subjects and keywords (as provided)
- Subjects: 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