Republic of Latvia: Staff Report for the 2004 Article IV Consultation

August 16, 2004

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Republic of Latvia: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 19, 2024

Summary

This 2004 Article IV Consultation highlights that since the last Article IV consultation discussions, economic activity in Latvia has maintained its momentum. GDP grew 7½ percent in 2003 and 8¾ percent year over year in the first quarter of 2004; however, inflation climbed to 6.1 percent at end-June, from 3.6 percent at end-2003. Fiscal performance has improved appreciably, and public debt remains low. The general budget deficit, at 1.6 percent of GDP in 2003, narrowed by nearly 1 percentage point from 2002, reflecting lower-than-budgeted expenditures, unexpectedly high tax revenues, and lower net lending.

Subject: Balance of payments, Credit, Current account deficits, External debt, Inflation, Money, Prices, Public debt

Keywords: Baltics, CR, Credit, Current account deficits, Deficit, EU accession, EU entry, EU market, Europe, Exchange rate, Fiscal policy, Global, Indexation procedure, Inflation, ISCR, Latvia, Procedure

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/260
Stock No:

1LVAEA0022004
ISBN:

9781451824520
ISSN:

1934-7685

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