Latvia Country Snapshot


EIU

Latvia - Economist Intelligence Unit - The Economist

DOMESTIC POLITICS: A five-party, centre-right coalition government took office in March. The prime minister is Mr Dombrovskis from New Era, which was previously in opposition. Mr Dombrovskis heads a coalition that comprises New Era, the conservative Civic Union and three parties from the outgoing coalition: the People's Party, the Union of Greens and Farmers (ZZS), and the conservative-nationalist For Fatherland and Freedom-Latvian National Independence Movement (TB-LNNK). The new coalition commands a sizeable majority in the 100-seat Saeima (parliament), with 64 seats. However, tensions arising from tough adjustment measures mean that the new government is unlikely to survive until the election that is due in October 2010.

Country Forecast Overview (3 Year)
Key Indicators 2008 2009 2010
Real GDP Growth (%) -4.15 -16.50 -3.20
Consumer Price Inflation (av;%) 15.41 3.30 -2.10
Budget Balance (% of GDP) -4.00 -9.80 -8.90
Current-Account Balance (% of GDP) -13.22 6.10 5.90
Exchange Rate US$:Euro (av) .48 .52 .51
Exchange Rate US$:Euro(year-end) .50 .51 .50

Latvia GDP PPP & GDP Growth Rates
2004 - 2008
Latvia GDP Growth Rate Chart

Year GDP in Billions of USD PPP % GDP Growth
2004 26.60 9.25
2005 30.40 11.21
2006 35.23 12.81
2007 39.85 10.62
2008 38.84 -4.15
Source: EIU Country Data

Latvia: risk assessment
Risk October 2009
Sovereign risk B
Currency risk B
Banking sector risk B
Political risk BBB
Economic structure risk BB
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