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WEEK 34th 2003

Friday, the 22th of August, 2003

Ministry of Finance increases forecast
According to the Minister of Finance, Valdis Dombrovskis, and the Ministry of Economy, the growth of the GDP in 2004 could amount 6.1% instead of the previously anticipated 5.8%. This year, the growth of the GDP will be close to 7%.
(Telegraf)

Thursday, the 21st of August, 2003

Banks increase profit
According to the information provided by the Bank of Latvia, in the first seven months of this year, the commercial banks have earned LVL 39.1 million, which is 36.2% more than in the respective time period last year.
(Kommersant Baltic Daily)

Wednesday, the 20th of August, 2003

Most profitable business of insurance - reinsurance
In the first six months of this year, the profit of the Latvian insurance companies amounted LVL 2.845 million, which is 6.4 times more than in the respective time period last year. The profit of the risk insurance reached LVL 3.1 million, whereas the share of the life insurance has decreased by LVL 270,000. The President of the Latvian Insurers Association, Ivars Prieditis, anticipates a 10-15% large growth in the market of risk insurance, and up to 30% - for the market of life insurance this year.
(Kommersant Baltic Daily)

Tuesday, the 19th of August, 2003

Economical growth stable
According to the data of the Central Statistical Bureau of Latvia, the volume of the Q2 manufacturing industry has increased by 8.2%, whereas the volume of the Q2 retail sales has increased by 11.6%, but in the first six months of this year - by 12%.
(Neatkariga Rita Avize)

Monday, the 18th of August

Export's boom
According to the data of the Central Statistical Bureau of Latvia, this year, the export has increased by 18.8%. In June 2003, the export has grown by 31% if compared to the respective time period last year. The main increase was for the export of timber, textiles and metals.
(Diena)

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