Latvia’s economy shrinking says latest Swedbank report

Oct 01, 2009
From wire reports

RIGA - Latvia’s GDP will contract by 25 percent by the middle of 2010, compared with the highest point it reached at the end of 2007, says chief economist at Swedbank Martins Kazaks, reports news agency LETA. In the latest ‘Swedbank Economic Outlook,’ Kazaks says that by the middle of the next year, Latvia’s economic output will have dropped to the same level as in 2004. For 2009 the country will register a 17 percent to 19 percent GDP fall, will shrink by another three percent in th ...

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