Latvia's GDP forecast stands unchanged

The Finance Ministry says Latvia's GDP forecast is unaffected by the recent crash and ongoing liquidation of the ABLV Bank.

The forecast, therefore, stands at 4% GDP growth for 2018 and 3.4% for 2019. 

The Finance Ministry claims previous forecasts were conservative, and that things that would drive Latvia's economy will be the positive global market situation, growing external demand, as well as investment and construction growth driven by the influx of EU funds. 

"The end of ABLV Bank's operations doesn't change the positive effect these factors have on Latvia's economy. At the same time... the effect of potential decrease in credit volume is very limited, seeing as the bank specialized in serving non-resident [clients]," the ministry says on its website.

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