Gross domestic product is projected to fall 7 percent and the government debt to increase to 51.7 percent of GDP this year, the Finance Ministry informed LETA.
The said projections come from the Finance Ministry's Latvian Stability Program for 2020-2023.
According to the Finance Ministry's estimates, economic growth will gradually resume in the coming years and GDP will increase 1 percent in 2021 and 3.5 percent in 2022.
General government budget deficit this year is projected at 9.4 percent of GDP and 5 percent in 2021. Gener...
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