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

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  • 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.

Suggested Citation

  • International Monetary Fund, 2004. "Republic of Latvia: Staff Report for the 2004 Article IV Consultation," IMF Staff Country Reports 2004/260, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2004/260
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