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Macro - Country Economic Forecasts - Latvia

Publisher Oxford Economics
Published Apr 05, 2023
Length 6 Pages
SKU # OFE17888478

Description

Macro - Country Economic Forecasts - Latvia

We have boosted our 2023 GDP growth forecast by 0.6ppts to 0.5% as unexpectedly low winter energy import costs, allowing more resilient domestic demand, has averted the risk of further GDP declines. But industrial output is still set to fall sharply due to higher energy bills, subdued eurozone demand and the ongoing rise in the eurozone interest rates. A strong return to growth in 2024 at 3.4% reflects the improvement in investment conditions as inflation drops back towards ECB targets and interest rates start to fall, with stronger EU market demand underpinning recovery even if the Russia-Ukraine conflict drags on.

Table of Contents

6 Pages
Latvia: Recession avoided, but no industrial rebound until 2024
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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