Friday, the 23rd of December, 2005
American Jeld-Wen investments in Aizkraukle the largest outside Riga
American company Jeld-Wen has built a factory in Aizkraukle to produce wood fibre boards. EUR 50 million have been invested in the factory, making it the largest single investment outside Riga. Aizkraukle is becoming more and more attractive to the investors, due to its rapid development. Experts also believe this shows the planned date of introducing euro has no serious impact on investmemts.
Thursday, the 22nd of December, 2005
Moodys have confirmed the high rating
Moodys Investors Service has confirmed Latvias credit rating still is A2 with a stable prognosis for development. It is good news for Latvian economy, which confirms that it is safe to invest in Latvia.
Biznes & Baltija
Wednesday, the 21st of December, 2005
Latvia still the poorest among EU member states
The income of each Latvian inhabitant is 43 per cent of the average EU level, which still leaves Latvia as the poorest EU member country. Latvia has the fastest economic growth in Europe, but the average EU level is still approached with a speed of 2 per cent per year.
Tuesday, the 20th of December, 2005
Economy is slowing down
Various experts warn that the Latvian economic growth may be slowing down, mainly because of the high inflation. The growth of GNP in 2005 has been more than 10 per cent. The prognoses for the year 2006 differ. The Association of Economists 2010 believes the growth will be 8.4 per cent, the Ministry of Economy prognoses it will be 8 per cent, experts of Hansabanka estimate it at 7.6 per cent, the Ministry of Finances puts it at 7 per cent, and International Monetary Fund is the most pessimistic with its estimate of 6.8 per cent.
Monday, the 19th of December, 2005
The unemployment seemingly improves
The level of unemployment in Latvia in the 3rd quarter of 2005 has been 8.7 per cent, in comparison with 10 per cent in the 3rd quarter of 2004. The improvement is closely connected to the fact that many Latvians are going abroad to find a better job, and many companies now have trouble with finding employers.
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