Republic of Latvia: Staff Report for the 2004 Article IV Consultation

International Monetary Fund

No 2004/260, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2004 Article IV Consultation highlights that since the last Article IV consultation discussions, economic activity in Latvia has maintained its momentum. GDP grew 7½ percent in 2003 and 8¾ percent year over year in the first quarter of 2004; however, inflation climbed to 6.1 percent at end-June, from 3.6 percent at end-2003. Fiscal performance has improved appreciably, and public debt remains low. The general budget deficit, at 1.6 percent of GDP in 2003, narrowed by nearly 1 percentage point from 2002, reflecting lower-than-budgeted expenditures, unexpectedly high tax revenues, and lower net lending.

Keywords: ISCR; CR; deficit; fiscal policy; EU accession; Latvia; procedure; EU market; EU entry; exchange rate; indexation procedure; Current account deficits; Credit; Inflation; Baltics; Europe; Global (search for similar items in EconPapers)
Pages: 45
Date: 2004-08-16
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