Latvia expects the fastest economic growth from the Baltic States this year, according to the International Monetary Fund’s (IMF) spring forecast for the world economy, LETA reported on April 6.
In another Global economic outlook In a report, the International Monetary Fund forecasts that the Latvian economy will grow by 3.9% this year, compared to the 5.2% growth estimated last October. Next year, the International Monetary Fund expects Latvia’s GDP to grow by 5.2%, which is the highest in the Baltic States.
The International Monetary Fund estimates that consumer prices in Latvia will increase by 2.1% this year, while inflation will be 2.2% next year.
According to IMF forecasts, unemployment in Latvia will reach 7.2% at the end of this year, but next year it will decrease to 6.7%.
The International Monetary Fund also expects the current account surplus to be 0.5% of Latvia’s GDP this year and 0.2% of GDP next year.
For the Baltic States, the second fastest GDP growth this year is expected for Estonia with a growth forecast of 3.4%, while the Estonian Monetary Fund expects 4.2% growth in the Estonian economy next year. In October, the International Monetary Fund estimated that Estonia’s GDP would grow by 4.5% this year.
Estonia’s inflation rate is expected to be 1.8% this year and 2.5% next year.
Estonia’s current account is projected to run a surplus of 0.4% of GDP this year and 0.5% of GDP next year. The International Monetary Fund expects the unemployment rate in Estonia to rise to 7.1% by the end of this year and estimates that it will fall to 6.5% next year.
In Lithuania, the International Monetary Fund expects economic growth of 3.2% this year and next. In October, the International Monetary Fund forecast economic growth of 4.1% this year. The IMF inflation rate in Lithuania is expected to be 1.5% and 1.9% this year and next, respectively.
Lithuania is expected to have a surplus of 6.2% of GDP this year, while it is estimated that the surplus will be 4.8% of GDP next year.
On the other hand, unemployment in Lithuania is estimated by the IMF to reach 8.4% at the end of the year, but will fall to 7.6% next year.
For the eurozone, the International Monetary Fund expects GDP to grow by 4.4% this year, while economic growth is estimated at 3.8% next year.
The International Monetary Fund expects inflation in the euro area to be 1.4% this year and 1.2% next year. The current account is expected to have a surplus of 2.8% of GDP and a surplus of 2.7% next year. Meanwhile, unemployment in the euro area is expected to reach 8.7% this year, but will fall to 8.5% next year, according to the International Monetary Fund’s spring forecast.
As for the global economy, the International Monetary Fund expects 6% growth this year, up 4.4% next year.
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