Economy


  • 5-October-2017

    English

    Boosting economic opportunities and wellbeing in Latvia: why housing matters

    Unemployment is still above 8% in Latvia and contributes to poverty, in part because many unemployed have been without a job for an extended period of time.

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  • 25-September-2017

    English

    Latvia: time to reboot inclusive productivity growth

    Latvia’s economy is growing strongly. Driven by the recovery of exports and investment as well as strong private consumption, real GDP growth is expected to strengthen from 2% in 2016 to around 4% this year and next.

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  • 15-September-2017

    English

    Economic Survey of Latvia 2017

    The Latvian Economy has grown robustly but not enough for strong convergence in living standards.

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  • 15-September-2017

    English

    Latvia: Maintain robust expansion and continue reforms to achieve income convergence and more inclusive growth

    Successful implementation of economic reforms has boosted the Latvian economy, leading to strong growth, rising wages and solid public finances. Further policy action is now needed to accelerate productivity growth, create jobs, drive down poverty, improve living standards and ensure that everyone benefits from more inclusive growth, according to a new report from the OECD.

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  • 15-September-2017

    English

    OECD Economic Surveys: Latvia 2017

    Latvia’s economy has grown robustly in recent years on the back of a strong track record in implementing structural reforms, despite a challenging international environment. Rising wages have supported household consumption. After a severe setback in 2008-09, catch-up with higher income OECD countries may have resumed. Government finances are solid and financial market confidence in Latvia is strong. Private sector indebtedness is now lower than in many OECD economies. Export performance, including diversification of products and destinations, is improving, but Latvia’s participation in global value chains is modest. Latvia’s exports still rely heavily on low value-added, natural resource intensive products, reflecting in part skills shortages and weak innovation. Unemployment remains high, although it has fallen. Many young Latvians emigrate. Informal economic activity is still widespread.
    High long-term unemployment, weak social safety nets and high labour taxes for workers on low pay contribute to widespread poverty. Many low-income households are inadequately housed. High out-of-pocket payments limit access of low-income households to health services. Improving access to housing, health care, education and training would improve economic opportunities for low-income households and requires additional government spending.

    SPECIAL FEATURES : MOVING UP THE GLOBAL VALUE CHAIN; ECONOMIC AND SOCIAL INFRASTRUCTURE

  • 21-August-2015

    English

    Policy areas for increasing productivity in Latvia

    Much of the convergence of the Latvian economy needs to come from productivity increases. To achieve this, policy makers should do more to facilitate the integration of the economy into global trade and promote competitive business environment.

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  • 21-August-2015

    English

    Improving public sector efficiency for more inclusive growth in Latvia

    This working paper explores avenues to improve public sector efficiency in Latvia, a catching-up and ageing economy where spending needs are large.

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  • 25-February-2015

    English

    Reforms can support growth and equity in Latvia, OECD says

    The Latvian economy is among the fastest-growing in the euro area, but continued reforms will promote a rapid and sustainable pace of convergence with upper-income countries while limiting the risk of repeated boom-and-bust cycles, according to the OECD Economic Survey of Latvia.

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  • 9-February-2015

    English, PDF, 90kb

    Going for growth 2015 - Latvia

    This country note from Going for Growth 2015 for Latvia identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.

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