{
  "title": "Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia",
  "publication": "IMF Staff Country Reports, June 16, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-latvia-2016-article-iv-consultation-press-release-staff-report-and-statement-by-43983",
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  "summary": "This paper focuses on the key issues related to the economy of Latvia. Growth picked up somewhat last year despite a weak external environment. GDP growth rose to 2.7 percent, up about ¼ percent over the previous year. However, growth is expected to slow slightly in 2016 to 2½ percent.",
  "sections": [
    {
      "heading": "Economic growth and outlook",
      "content": "- GDP growth rose to 2.7 percent, up about ¼ percent over the previous year.\n- Growth is expected to slow slightly in 2016 to 2½ percent.\n- Growth picked up somewhat last year despite a weak external environment."
    },
    {
      "heading": "Key challenges and policy recommendations",
      "content": "- Principal challenge: generate the growth necessary to sustain the pace of income convergence with Western Europe.\n- Structural reforms required:\n  - Improve state-owned enterprise governance.\n  - Strengthen the business environment.\n  - Upgrade public infrastructure.\n  - Modernize legal systems."
    },
    {
      "heading": "Subjects and keywords (as provided)",
      "content": "- Subjects: Banking, Credit, External debt, Income, Labor, Minimum wages, Money, National accounts, Wages\n- 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\n\n---\n\n Content in this bundle\n\n- Cr16171\n  - Cr16171 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr16171 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 16, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498304467.002",
    "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.",
    "Principal challenge: generate the growth necessary to sustain the pace of income convergence with Western Europe.",
    "Structural reforms required:",
    "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",
    "**Cr16171**"
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