It is my pleasure to be back in Riga to present to you the 2019 Economic Survey and the first OECD Environment Performance Review (EPR) of Latvia. Together, these two reports chart a path towards a more dynamic, inclusive and environmentally sustainable future in Latvia.
The Latvian economy is thriving, with strong job growth driving convergence with more advanced economies. Efforts should now focus on reducing inequality, responding to the challenges posed by population ageing and making growth stronger, inclusive and greener, according to two new OECD reports.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Riga on 29 May 2019 to present the 2019 OECD Economic Survey of Latvia and the 2019 OECD Environmental Performance Review of Latvia, alongside Messrs. Ralfs Nemiro, Minister of Economics of Latvia and Juris Pūce, Minister for Environmental Protection and Regional Development of Latvia.
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The tax wedge for the average single worker in Latvia decreased by 0.6 percentage points from 42.9 in 2017 to 42.3 in 2018. The OECD average tax wedge in 2018 was 36.1 (2017, 36.2).
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The digital revolution, globalisation and demographic changes are transforming labour markets at a time when policy makers are also struggling with slow productivity and wage growth and high levels of income inequality. The new OECD Jobs Strategy provides a comprehensive framework and policy recommendations to help countries address these challenges.
The Country Health Profiles are an important step in the European Commission’s two-year State of Health in the EU cycle and are the result of joint work between the OECD and the European Observatory on Health Systems and Policies. The concise, policy relevant profiles are based on a transparent, consistent methodology, using both quantitative and qualitative data, yet flexibly adapted to the context of each EU Member State.
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Fully reaping the opportunities of digitalisation is essential to sustain productivity growth and improve living standards in Latvia.