Maximus
Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Fitch upgrades Latvia’s credit rating

Jun 20, 2014
From wire reports, RIGA

International rating agency Fitch has raised Latvia's credit rating for long-term liabilities from "BBB+" to "A-" with stable future outlook, the Latvian Ministry of Finance says.

"This is the third credit rating upgrade for Latvia within a month, which means high appreciation of the achievements of the country and the nation," Latvian Minister of Finance Andris Vilks  commented

"Fitch explains the rating increase by Latvia's positive economic growth, good state financial indicators and achievements in the public finance environment," .

Fitch estimates Latvia's gross domestic product growth to reach 3.6 percent in 2014 and 3.8 percent in 2015. The budget deficit is estimated at 0.9 percent of GDP until the end of 2016. Further economic growth will be facilitated by the domestic demand, private consumption and recovery of investment activity

The agency indicates that the rating is sustained by the positive dynamics of the country. The state debt level is under the average "A" rating group, and the agency forecasts its decline in the future as well.

The banking sector has been evaluated as stable. The accession to the eurozone has reduced foreign exchange rate risks and given Latvian banks access to European Central Bank liquidity facilities.

Last time Latvia was rated "A-" was in 2007.

 MORE NEWS
  • VIDEO: KGB, Torture and Soviet...
    A new NATO video looks inside the KGB prison where Latvians were locked up, tortur...
  • Russia denies claims military ...
    Russia has denied claims one of its jets violated Estonian airspace earlier this w...
  • Top travel site names Lithuani...
    Lithuania has been named a top travel destination in 2015 by leading travel websit...
  • Baltic leaders set for top rol...
    The European Parliament on Wednesday voted in favor of Jean-Claude Juncker'...
  • Estonia pioneers e-residence s...
    Estonia will issue identity cards allowing access to its digital services to pe...
  • EU upholds sanctions against R...
    The EU has agreed to furthering sanctions against Russia amid the crisis in the...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.