GDP shrinks 2 percent as Latvia battles Russian crisis

Jul 08, 1999
Daniel Silva

RIGA - Although real GDP dropped 2.3 percent during the first quarter, compared to a 7.6 percent growth for the same period in 1998, the Central Statistics Bureau believes the country has shaken off the effects of the Russian financial crises and will see growth rates rise once again by the end of the year."We can't expect big growth," said Aija Zigure, Central Statistics Bureau head. "We could expect the year to end at around a 2 percent growth level."Nonetheless, Latvia's present GDP has suff ...

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