Latvia still among poorest in EU

Take note – story published 7 years and 1 month ago

Latvia is the fourth poorest EU state in terms of GDP per capita. According to Eurostat data from 2015 (published in March 2017), the quality of life in Latvia is just 64% of the European average. 

Latvia is the fourth poorest EU country according to Eurostat. Meanwhile the quality of life in Estonia and Lithuania is estimated to be at about 75% of the EU average.


(PPS is an artificial currency unit used in the EU to express summary economic indicators by eliminating price differences among member states.)

A European Commission report over Latvia in 2016 said that the country still has high income inequality.

Economic growth remains modest as well.

While the first growth forecast for 2016 was set at 3% by the Finance Ministry, it turned out just at 1.3% (seasonally adjusted data). This year the growth is expected to be stronger as EU funds will start flowing into the country again. 

tax reform that aims to reduce inequality and boost the economy is in the works too.

As the rest of the EU is picking up growth again, it might be hard for Latvia to reach the EU's average quality of life.

Between the Eastern European countries that joined the EU in 2004, the Czech Republic boasts the highest quality of life at 87% of the EU average.

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