New Country Reports market report from Business Monitor International: "Latvia Business Forecast Report Q1 2014"
Boston, MA -- (SBWIRE) -- 12/23/2013 -- Latvia's economic recovery will continue into 2014 and beyond, although we emphasize that strong headline real GDP growth is largely a result of statistical base effects. We see growing scope for the government to ease up on its long-held policy of fiscal austerity going forward.
We anticipate the moderation in consumer prices in Latvia to pick up slightly in 2014. We forecast inflation to average 0.7% in 2013 and 1.1% in 2014. Given the weak state of the domestic economy, we believe imported inflation will be a key driver of price pressures this year.
In line with our long-held expectations, Latvia will join the eurozone in January 2014, despite substantial opposition among the domestic electorate.
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Major Forecast changes
We have revised up our expectations for the current account deficit, which we now expect to arrive at 1.2% in 2014, from a previous forecast of 2.2%
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