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IMF ups Latvia's economic growth forecast for this and next year
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    IMF ups Latvia's economic growth forecast for this and next year

    RIGA, Oct 10 (LETA) - The International Monetary Fund (IMF) has revised upwards Latvia’s GDP growth forecast for this and next year.

    According to its latest World Economic Outlook, which the IMF released today, the Latvian economy is projected to grow by 3.8 percent this year and 3.9 percent next year.

    In its spring forecast, released in April, the IMF predicted Latvia’s GDP growth for 2017 at 3 percent and for 2018 at 3.3 percent.

    Latvia’s inflation rate has been projected at 3 percent this year. According to the IMF’s estimates, unemployment will decline to 9 percent this year and 8.7 percent next year from 9.6 percent last year while Latvia’s current account deficit will reach 0.3 percent of GDP this year and will widen to 1.5 percent of GDP next year.

    The IMF also expects Estonia to show the strongest economic growth among the three Baltic states this year, with Estonia’s GDP likely to expand by 4 percent in 2017 and 3.7 percent in 2018. As compared to its April forecasts, Estonia’s growth forecast has been raised from 2.5 percent and 2.8 percent respectively. Estonian inflation is projected at 3.8 percent in 2017 and 3.4 percent in 2018, and Estonia’s current account is expected to accumulate a surplus of 1.8 percent of GDP, which next year will contract to 1.4 percent of GDP. Estonian unemployment, meanwhile, is set to rise to 8.6 percent this year and 9 percent next year from last year’s 6.8 percent.

    The Lithuanian economy, meanwhile, is expected to show 3.5 percent growth this and also next year. Lithuania’s economic growth forecast has been raised from 2.8 percent for this year and 3.1 percent for next year. Lithuania’s inflation rate is projected at 2.8 percent this year and 2 percent next year. Lithuania’s current account deficit is expected to reach 1.6 percent of GDP this year and 1.5 percent of GDP next year. According to IMF estimates, Lithuanian unemployment will drop to 7.4 percent this year and 7.2 percent next year from this year’s 7.9 percent.

    The eurozone’s GDP is projected to grow by 2.1 percent this year and 1.9 percent next year.

    • Published: 10.10.2017 16:35
    • LETA
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