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2,8%

According to Latvijas Banka December forecasts, Latvia’s GDP will increase by 2.8% in 2021.

As to the economic outlook for the third quarter, there is good reason to expect better results due to more relaxed COVID-19 restrictions and overall more positive sentiment among consumers and businesses.

Anete Migale

Latvijas Bankas ekonomiste

Lai gan pandēmija darba tirgu kopumā, protams, ietekmējusi negatīvi, darba tirgus šai ietekmei pretojies cienījami.

Guntis Kalniņš

Latvijas Bankas ekonomists

The restrictions related to the exacerbation of the spread of the COVID-19 virus and the dramatic decrease in economic activity determined developments of the balance of payments in the second quarter of 2020.

2019 XII	2.1
2020 I	2.2
2020 II	2.3
2020 III	1.4
2020 IV	-0.1
2020 V	-0.9
2020 VI	-1.1
2020 VII	0.1
2020 VIII	-0.5
2020 IX	-0.4
2020 X	-0.7
2020 XI	-0.7
2020 XII	-0.5

Real GDP (year-on-year; %)

Job seekers rate (%)

Current account surplus/deficit to GDP ratio (%)

All

Macroeconomic Indicators

2019 Q3	1.5
2019 Q4	0.8
2020 Q1	-1
2020 Q2	-8.6
2020 Q3	-2.6

2019 Q4	6
2020	7.4
2020 Q1	7.4
2020 Q2	8.6
2020 Q3	8.4

2019 Q3	-3.7
2019 Q4	-0.3
2020 Q1	1
2020 Q2	3.8
2020 Q3	-0.7

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EXPERT'S COMMENT

Oļegs Krasnopjorovs

Andrejs Bessonovs

Agnese Rutkovska

Anete Migale

Guntis Kalniņš

Annual inflation (%; HICP)

Real GDP (year-on-year; %)

Job seekers rate (%)

Current account surplus/deficit to GDP ratio (%)

MACRO DEVELOPMENTS REPORT

NUMBER THAT COUNTS