International rating agency Moody’s has reaffirmed Latvia’s credit rating at A3 with a stable outlook, LSM reported. The agency noted the stability of Latvia’s public finances and general government debt. Moody’s expects the general government deficit to be around 2.9% of GDP in 2024 and to gradually decline to 2.6% in 2025 and to 1.7%…
The growth of household income in Lithuania will exceed inflation by 3-4 times in 2024, Social Security and Labour Minister Monika Navickiene forecasts, BNS reports. The Social Security and Labour Ministry expects that household income will rise by an average 12% on year in 2024, while the Finance Ministry expects Lithuania’s average annual inflation to…
International credit rating agency Fitch Ratings has affirmed Estonia’s long-term foreign-currency issuer default rating at A+ with a stable outlook, ERR reports. The rating reflects Estonia’s strong governance standards and institutions, low public debt, and net external creditor position, Fitch stated. At the same time, Estonia’s lower income per capita and small economy expose the…
Food prices in Latvia will grow by less than 4% in 2024, Ieva Opmane, economist at the Bank of Latvia, forecast, LSM reports. The price hike will be higher than average inflation but much less than in 2023 and 2022, she said. The rise in food prices will depend on consumer income, energy prices, harvests,…
Estonia’s consumer price index (CPI) rose by 9.2% in 2023, compared to the year before, according to Statistics Estonia, ERR reports. The rise of food and non-alcoholic beverages accounted for almost two fifths of the overall rise in consumer prices. Meanwhile, petrol prices dropped by 7.4% and diesel fuel prices by 10.7% over a year….
Estonia’s central bank, the Bank of Estonia, foresees growing unemployment in the near future, ERR reports. Orsolya Soosaar, economist at the Bank of Estonia, expects the country’s unemployment rate to reach double digits in 2024. In late September 2023, the central bank forecast that unemployment would rise to 8% in 2024. Soosaar said that the…
Estonia’s GDP will decline by 2.2% in 2023 and grow by 1.4% in 2024 and 4% in 2025, according to the Bank of Estonia’s latest forecast, ERR reports. In June 2023, the central bank projected a 1% drop in GDP in 2023 and a growth of 2.4% in 2024. Annual inflation will amount to 9.4%…
Estonia’s GDP will decline by 1.8% in 2023 and grow by 1.5% in 2024, according to SEB Bank’s latest forecast, ERR reports. The average unemployment rate will reach 6.5% in 2023 and 6.9% in 2024, the bank projects. Mihkel Nestor, chief economist at SEB, noted that the outlook for the Estonian economy has deteriorated in…
Estonia’s real GDP will decline by 2.0% in 2023, according to the Ministry of Finance’s latest forecast, BNS reports. The GDP will grow by 2.7% in 2024, by 3.0% in 2025, by 2.5% in 2026, and by 2.2% in 2027, the ministry projects. Earlier, the ministry expected real GDP to drop by 1.5% in 2023…
