Latvia has climbed 16 places in the economic freedom index, released by the Heritage Foundation and Wall Street Journal, and now is 20th. The Index covers 10 freedoms – from property rights to entrepreneurship – in 186 countries.

The increasing dynamism of Latvia’s economy has been facilitated by openness to global trade and investment. Supported by efficient business regulations that promote entrepreneurial activity, the overall commercial environment has become conducive to business creation and risk-taking. Fiscal consolidation in recent years has kept government spending under control and ensured macroeconomic stability.

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