The GDP Working Group is the second of the main working groups of the Fiscal Council. It comprises the following members of the Council: Ülo Kaasik, Inna Šteinbuka and Morten Hansen (chair).
Its main task is an independent evaluation of the Draft budgetary plan of the government for the next year and following two years. This includes an assessment of the development of nominal and real GDP, of potential growth, of forecasted budget reveneue and spending as well as an assessment of the government structural balance.
On 30 January 2019 this year's first GDP working group meeting was held together with experts from the Bank of Latvia. The working group discussed current Latvia's macroeconomic developments, incl. matters regarding economic cycle. During the meeting, there was a discussion on the Latvia's potential and real GDP growth, its limitations and stimulus, and the impact on the development of the economic cycle and output gap in the upcoming years. The discussion of the working group also reflected the topicality of the formation of the new government, as well as the expected annual endorsement procedure of the official macroeconomic forecasts of Latvia within the framework of the Stability Programme at the beginning of February. Council meeting minutes draft.
16 October 2014 meeting minutes available in Latvian.
Last modified : 1 March 2019