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Saturday, 23.11.2024, 06:22
EC expects Latvia to be fastest-growing Baltic economy in 2019 and 2020
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The European Economic Winter Forecast 2019, released by the
European Commission on Thursday, shows that the Latvian economy is projected to
grow 3.1% in 2019 and 2.6% in 2020.
Latvian inflation is forecast at 2.7% for this year and 2.1%
for next year.
Meanwhile, Lithuania and Estonia are expected to show
identical economic growth in the next couple of years – 2.7% in 2019 and 2.4% in
2020.
According to the European Commission’s forecast, Estonian
inflation will reach 2.8% this year and slow down to 2.3 % in 2020. In
Lithuania, consumer prices are expected to rise 2.2% in 2019 and 2.1% in 2020.
The European Union’s (EU) economic growth rate is forecast
at 1.5% for 2019 and 1.7% for 2020. The economic growth forecast for the EU
minus the UK is 1.5% for 2019 and 1.8% for 2020.
The euro area’s growth is forecast to accelerate from 1.3%
this year to 1.6% next year.
Inflation in the EU is expected to reach 1.6% in 2019 and
rise to 1.7% in 2020. In the euro area the inflation rate is forecast at 1.4%
for this year and 1.5% for next year.
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