Latvia's economy stabilizing, but remains 'fragile'

Dec 10, 2009
From wire reports

RIGA - Latvia may be able to drop its national currency, the lats, and switch to the euro already in 2013, a year earlier than its official target date, if the government manages to narrow the budget deficit, says central bank Governor Ilmars Rimsevics, reports Bloomberg. The Baltic state’s economy, facing the deepest recession in the European Union, will start to grow again in the second half of next year, Rimsevics said. He said that GDP may contract 2.5 percent in 2010, better than t ...

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