Bank of Latvia increases 2021 GDP forecast to 5.4% growth

The Bank of Latvia has increased to 5.4% its forecast to the growth of the gross domestic product (GDP) of Latvia for 2021, pointing out that currently, there is strong growth in the Latvian economy, according to what President Egils Levits said following a meeting with Mārtiņš Kazāks, the governor of the Latvian central bank.
The Media Centre head of the President’s office, Justīne Deičmane, informed that during the conversation the two officials discussed current events in macroeconomics and the necessary actions and investments to the benefit of sustainability.
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Levits and Kazāks agreed that a serious precondition to the development of Latvia is necessary investment in sustainability, including life-long education and the acquisition of skills in a number of areas, including the digital environment. Addressing the issue of long-term investments, the need to continue the administrative and territorial reform was emphasised, as well as the development of Latvian cities as a precondition to regional development.
Reportedly, the GDP of Latvia grew by 5.1% in the first half of 2021 year-on-year.