Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia

International Monetary Fund

No 2016/171, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on the key issues related to the economy of Latvia. Growth picked up somewhat last year despite a weak external environment. GDP growth rose to 2.7 percent, up about ¼ percent over the previous year. However, growth is expected to slow slightly in 2016 to 2½ percent. While Latvia continues to make steady economic progress, a key challenge will be to generate the growth necessary to sustain the pace of income convergence with Western Europe. Structural reforms will be required to improve state-owned enterprise governance and strengthen the business environment, upgrade public infrastructure, and modernize legal systems.

Keywords: ISCR; CR; growth; staff appraisal; adjusted basis GDP; Latvia; authority; Q1 GDP; IMF staff estimate; EU rule; Non-resident deposits; Credit; Income; Minimum wages; Wages; Europe; Global; Western Europe (search for similar items in EconPapers)
Pages: 57
Date: 2016-06-16
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