Latvian central bank releases first 'Macro Profile' of 2020

Latvia's central bank, Latvijas Banka (LB) has hit the ground runnign in the new year with the release of its first 'Macro Profile' of 2020.

Providing a general overview of the economic position in the country, according to Latvijas Banka, Latvia's GDP is projected to grow by 2.3% in 2019 and by 2.6% in 2020. Inflation is expected to decelerate from 2.8% in 2019 to 2.4% in 2020.

"The additional accommodative monetary policy measures adopted by the Governing Council of the European Central Bank have enhanced the favourable financial conditions, yet bank lending remains sluggish in Latvia. At the same time, the ongoing financial sector reforms could result in a larger focus on satisfying the financing needs of the economy and improve the attractiveness of Latvia's investment environment in the long term," LB said.

The full Macro Profile, and other data, is available to read at LB's dedicated macroeconomic website.

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