In the latest World Economic Outlook report, the IMF forecasts that Latvian economy will grow by 3.9% this year, less than the 5.2% growth estimated in previous forecasts in October. Next year, IMF forecasts Latvia's GDP growth of 5.2%, highest in the Baltic States.
The IMF estimates consumer prices will rise by 2.1% this year in Latvia, while inflation will be 2.2% next year.
According to IMF projections, unemployment will reach 7.2% in Latvia at the end of this year, but will fall to 6.7% next year.
The IMF also forecasts that the current account will have a surplus of 0.5% of GDP in Latvia this year, while a surplus of 0.2% of GDP is forecast next year.
For the Baltic States, the second fastest GDP growth this year is forecast for Estonia, with growth projected at 3.4%, while in the Estonian economy the IMF expects 4.2% growth next year. In October, the IMF estimated GDP would grow by 4.5% this year in Estonia.
Estonia's inflation is projected at 1.8% this year and at 2.5% next year.
Estonia's current payments account projects a surplus of 0.4% of GDP this year, while next year a deficit of 0.5% of GDP is expected. The IMF expects an increase in the unemployment rate in Estonia to 7.1% at the end of this year and estimates it will fall to 6.5% next year.
In Lithuania, the IMF forecasts an economic rise of 3.2% this year and next year. In October, the IMF forecast economic growth of 4.1% this year. Inflation at the IMF in Lithuania this year and next year is expected at 1.5% and 1.9%, respectively.
Lithuania is forecast a surplus of 6.2% of GDP this year, while next year the surplus is estimated at 4.8% of GDP.
On the other hand, unemployment in Lithuania, according to the IMF estimates, will reach 8.4% at the end of the year, but will fall to 7.6% next year.
For the eurozone, the IMF forecasts a 4.4% GDP rise this year, while economic growth of 3.8% is estimated next year.
The euro area's inflation is forecast by the IMF this year at 1.4% and next year at 1.2%. The current account forecasts a surplus of 2.8% of GDP and a surplus of 2.7% next year. Meanwhile, unemployment in the euro area is projected to be 8.7% this year, but will fall to 8.5% next year, the IMF's spring forecasts say.
For the global economy, the IMF is projecting 6% growth this year, with a rise of 4.4% next year.
