European Commission projects Latvia to see second biggest economic downslide in Baltics this year

  • 2020-05-06
  • LETA/TBT Staff
RIGA - The European Commission in its latest economic forecasts projects that Latvia's gross domestic product (GDP) this year will decline by 7 percent, showing the second steepest decline in the Baltic states. At the same time, Latvia's GDP is expected to rise 6.4 percent next year. Inflation has been projected at 0.2 percent this year and 1.9 percent next year. The Commission said that due to closure of borders and external demand, investments and exports will suffer most, while domestic consumption will be better than in ot...
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