Country Economic Forecasts - Latvia
GDP growth slowed to 4.2% in Q2 and falling labour supply will cap expansion at just below 4% this year and then lower it to about 3% in 2019-21 despite investment aimed at lifting productivity. The boost to domestic demand from strong wage growth is now being offset by its inflationary effect, with consumer and producer price inflation set to stay above the eurozone average until growth drops closer to its sustainable rate of about 3%. However, low costs and improved infrastructure continue to boost net exports, re-balancing the current account despite an ongoing fiscal deficit.
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