The working group agrees that the development of Latvia’s economy can be characterised as generally balanced  9 July 2015

On 9 July 2015 the GDP working group reviewed the most recent Ministry of Finance macroeconomic forecasts that will be used as the basis for drafting Latvia’s state budget for 2016 and the medium-term budget law. The working group agrees with the forecasts, supporting the opinion of the Ministry of Finance that the development of Latvia’s economy can be characterised as generally balanced. Nevertheless, just as in the interim report, the council continues to draw attention to the comparatively sharp constant growth in salaries that can  negatively influence competitiveness.

The GDP working group was established on 29 May 2014. It comprises the following members of the Council: Martins Kazaks (chair), Ülo Kaasik and Morten Hansen