Friday, the 2nd of December, 2005
Each fifth is ready to leave
The survey of SKDS research centre shows that 19 per cent of inhabitants of Latvia are ready to work abroad, and 7 per cent admit it is highly likely. Men aged 18 to 24, people with secondary education, Latvians, unemployed, people with low or medium income, and people living in rural areas are more likely to leave.
Thursday, the 1st of December, 2005
Society optimistic and buys more
In the first 10 months of 2005, the turnover of retailers has increased by 21.1 per cent in comparison with 2004. Financial analysts believe that this is a huge increase in private consumption, and this shows there is a lot of optimism in society. The chief analyst of Hansabanka, Liene Kule, points out that inflation cannot influence spending since, if it did slow down spending, soon enough inflation itself would decrease. The analyst of Parex Asset Management, Vadims Zaicevs, believes that the spending is increased by an increase in credits and bank loans; people take credits they need to spend soon.
Wednesday, the 30th of November, 2005
Inflation is expected to slow down
On 29th of November, the Latvian government accepted Latvian convergence programme for 20052008, which shows the aim of the government to ensure Latvia can introduce euro. The programme stipulates that the average inflation in 2005 will be 6.8 per cent, but it will gradually decrease until it reaches 3.5 per cent in 2008. Gross domestic product is expected to grow by 7 per cent each year, mainly fuelled by private consumption, which is encouraged by a larger employment rate and a higher salary.
Tuesday, the 29th of November, 2005
We have been crossed out of Euro zone
The European Commissioner for Economic and Monetary Affairs Joaquín Almunia has announced that only five new EU member countries are ready to introduce euro in the planned dates. Estonia, Lithuania, and Slovakia will introduce euro by 2007, but Malta and Cyprus will introduce it by 2008. Latvia planned to introduce euro in 2008, but Amunia believes it is not ready.
Monday, the 28th of November, 2005
Salaries not to hold people in one place
Economist Roberts Remess believes that the increase in salaries will not stop people from leaving Latvia in search for better-paid work. The salaries in the 3rd quarter of 2005 have grown for 17.7 per cent in comparison with the same period in 2004, but the starting point is so low that the increase is still numerically small. The average salary has grown to EUR 253.14, which is still about 8 times lower than in EU. The growth should last for several years to obtain a comparable level with the old EU member counties.
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