Bank of Latvia raises GDP growth forecast for this and next years

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The Bank of Latvia improved the growth forecast for the current year from 3.9% to 4.7%. For 2019, the economic growth forecast was raised from 3% to 3.6%, the Deputy President of the Central Bank, Zoja Razmusa, reported. In 2020, the Latvian regulator expects a slowdown to 3.5%. In addition, the average inflation rate in 2018 will be at the level of 2.6%, rather than 2.9%, as was predicted earlier. The Bank of Latvia forecasts inflation in 2019 at the level of 2.9%, in 2020 - at the level of 2.5%. According to the deputy chairman of the Central Bank, in Latvia there has been an increase in the influence of domestic demand over inflation. She expects that inflation in the country will exceed the average for the euro area in subsequent years.

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