The GDP Working Group is the second of the main working groups of the Fiscal Council. It comprises the following members of the Council: Martins Kazaks (chair), Ülo Kaasik and Morten Hansen.
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 2 February 2018 this year's first GDP working group meeting was held with participation of the Bank of Latvia experts. Working group discussed the trends in the macroeconomic development of Latvia, incl. business cycle issues. During the meeting there was discussed Latvia's potential GDP growth and its contributions, as well as the question on output gap among the current pace of economic development and the potential one. The topicality of the discussions of the working group was also determined by the annual endorsement procedure of the official macroeconomic forecasts of Latvia in the coming weeks in the framework of the elaboration of the Stability Programme. Meeting minutes draft.
16 October 2014 meeting minutes available in Latvian.
Last modified : 21 February 2018