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Latvia’s economy takes a nose-dive, annual growth slows to 3.6 percent

May 14, 2008
By TBT staff

RIGA - The hangover has begun. Latvia’s economy, over the past few years the hotrod of the European Union, is in the middle of coming to a screeching halt, with annual growth of gross domestic product falling to 3.6 percent in the first quarter. By comparison, GDP growth in the fourth quarter of 2007 was 8 percent, while growth in the first quarter was 11.2 percent. The result, announced by the statistics agency on May 9 and based on preliminary data, surprised many analysts, even though all ...


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 MORE NEWS

Central banker hails sharp jump in exports
Latvian retail sales falling hard
Lithuanian truckers take up French tactics
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Swedish banker: Latvia missed the boat
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Centrists: tap into the reserves
Lithuanians restart national stadium project
Swedbank chief defends lending policy, braces for losses in Baltics
Negative growth around corner for Estonia


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