(MENAFN) The banking group's newest Nordic Outlook revealed that SEB, one of the main banks in Latvia, has cut Latvia's economic expansion prediction for this year from 3.9 percent to 3.7 percent.
According to the quarterly report, Latvia's gross domestic production (GDP) expansion prediction for 2022 has been revised uphill from 4.6 percent to 5.2 percent.
Latvia's yearly inflation has been anticipated at 1.7 percent for 2021, it augmented from the formerly forecast of 1.2 percent. In 2022, Latvian consumer prices are projected to increase 2.4 percent; it augmented from the previous forecast of 2.2 percent.
SEB analysts stated that in spite of a slump in the first quarter of this year, the Latvia economic expansion is anticipated to return in the following quarters and speed up further next year as "lighter restrictions will allow consumption to recover."
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