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

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  • 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.

Suggested Citation

  • International Monetary Fund, 2016. "Republic of Latvia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Latvia," IMF Staff Country Reports 2016/171, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/171
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43983
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    More about this item

    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;
    All these keywords.

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture

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