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Posted inCentral Europe & Baltics, Estonia, Latvia

LATVIA: A Sluggish Pace for Economic Recovery

RIGA-THIS YEAR’S ECOnomic picture is shaping up to be even bleaker than last year’s. Following a successful macroeconomic stabilization program introduced in 1993, economic recovery was expected to begin. But that expectation was not realized – economic growth in Latvia has been considerably slower than in most successfully transforming economies in Eastern and Central Europe.