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European Commission projects Latvia to show slowest economic growth among Baltic states this year
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    European Commission projects Latvia to show slowest economic growth among Baltic states this year

    RIGA, Nov 7 (LETA) - Latvia's gross domestic product is likely to increase by 2.5 percent this year, which would be the slowest growth rate among the Baltic states, according to the European Commission's latest forecast. 

    The  European Commission also expects Latvia's economic growth to accelerate to 2.6 percent next year and to 2.7 percent in 2021. 

    Latvia's inflation rate is forecast at 3.1 percent for this year, 2.5 percent for next year and 2.3 percent for 2021. 

    Lithuania is likely to show the strongest economic growth in the Baltics this year, with its GDP expected to grow by 3.8 percent. In 2020 and 2021, Lithuania's GDP growth is expected to slow to 2.4 percent. Lithuania's inflation forecast is 2.4 percent for this year, 2.2 percent for next year and 2.1 percent for 2021. 

    Estonia's GDP growth is projected at 3.2 percent for this year, 2.1 percent for 2020 and 2.4 percent for 2021. Estonia's inflation is forecast at 2.4 percent for this yer, 2.1 percent for next year and 2.2 percent for 2021.

    According to the  European Commission's autumn forecast, the European Union's economic growth will be 1.4 percent in 2019, 2020 and 2021. The euro area, meanwhile, is expected to show 1.1 percent growth this year and 1.2 percent growth in 2020 and 2021. 

    The EU's inflation rate is projected at 1.4 percent for this and next year and at 1.6 percent for 2021. The euro area is likely to see a 1.2 percent inflation rate this and next year and a 1.3 percent inflation rate in 2021.

    • Published: 07.11.2019 13:26
    • LETA
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