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Bank of Latvia's Forecasts

01.02.2013.

Latvia's economic growth rate was the fastest among the EU Member States in the first three quarters of 2012. The Latvian economy managed to achieve considerable growth, despite the adverse developments observed in the global markets and major trade partner states. In 2013, the economic development will be affected by both external risks as well as risks stemming from domestic factors. External risks are mainly on the downside, whereas the risks associated with domestic developments lie largely on the upside.

Economic developments

Economic outlook for 2013

Oļegs Krasnopjorovs, Bank of Latvia economist
04.01.2013.
Real Sector,Labour Market

The turn of the year is the right time for taking a look at the accomplishments of the previous year and the future prospects. In this article I would like to provide my assessment of the economic developments in 2012 as well forecasts for 2013.

Inflation trending down this year

Daina Paula, Bank of Latvia economist
19.01.2012.
Prices and Costs

For several months now (since August 2011), inflation has been gradually trending down. In other words, the pace of consumer price growth is decelerating against the respective month of the previous year. Like formerly in the period of price growth, a significant contribution of global prices to the process cannot be neglected: the global food prices were decreasing gradually during the whole year (more buoyantly with the onset of new harvesting season), and in the fourth quarter also oil price levels fell below the previous peak recorded in the second quarter of 2011.