Analytics, Economics, GDP, Latvia
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Thursday, 12.12.2024, 06:46
Central Bank: Latvia's GDP will decrease by 16.5% in 2009
Nina Kolyako, BC, Riga, 13.05.2009.
Print version
Print versionLatvia's gross domestic product (GDP) will decrease by 16.5% in 2009, the president of the Central Bank Ilmars Rimsevics told members of the press today.
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The Bank of Latvia's council had a meeting this morning.
As Rimsevics admitted, Latvia is currently going through a rapid economic downslide.
Even though statistics show that Latvia's economy is becoming more balanced, Latvia's economic downslide has forced the Central Bank to reduce GDP predictions for this year, writes LETA.
''The government must continue to carry out reforms, because with the new GDP prediction, Latvia's budget deficit will reach 12%, however, the goal is 7%,'' Rimsevics pointed out.
As Rimsevics accented, a fall in GDP can be softened with quickly implemented support measures to stimulate the economy.
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