Unformatted text preview: growth of just 0.2% quarter on quarter and 3.5% year on year in the first quarter. The quarterly rise in real GDP was the strongest since the first quarter of 2008, and minimized the negative outlook in economic restoration. Latvia’s finance ministry was pleased after receiving the quoted numbers, given their expectations were exceeded for this year; and even more growth is predicted for the third quarter. However, the Bank of Latvia called on the government not to water down previous plans for cutting public spending in 2012 and not to be too optimistic in its plans for 2012....
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- Spring '08
- Economics, gross domestic product, Bank of Latvia, Latvian economic forecast