Latvian recession to cost nearly 40% of GDP

Dec 03, 2009
Oskars Magone

RIGA - A recent report from the Bank of Latvia has found that the recession will cost Latvia a total of 37 percent of the economy.

It will bring the economy back to the loevel it was at in 2004, when the country joined the EU. 

The 37 percent statistics represents the total expected losses from the crisis against the level of the economy when it was largest in late 2007.

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