Posts tagged as economic contraction

Latvian central bank predicts major economic contraction ahead

Thursday, March 26, 2020

Latvia’s central bank, (Latvijas banka, LB) updated its economic forecasts March 26 and unsurprisingly, given the severity of the world coronavirus crisis, the prognosis is not optimistic. “The Bank of Latvia has revised Latvia’s gross domestic product (GDP) and inflation forecasts. Taking into account the current developments in the world economy, LB predicts that Latvia’s GDP will decline by 6.5% in 2020 (compared to a 2.6% increase predicted in December 2019), while…