RIGA - Latvia needs to prepare for an upcoming crisis, warned Bank of Latvia president Ilmars Rimsevics in an interview with commercial LNT television on Tuesday.
He explained that the low gross domestic product (GDP) growth this year may cause Latvia’s economy to rise sharply in 2017. The growth will be supported by more active intake of EU structural funds.
"However, it is not good that Latvia is addicted to the structural funds. If there are funds, our economy is growing, if not, the economy is declining," remarked Rimsevics.
The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please authorize yourself.
In case you don't have a subscription yet - please visit our SUBSCRIPTION