Swedbank has published the most optimistic estimates yet for Latvia's economic growth, projecting that Latvia's economy will grow 4 to 4.2% both in 2017 and 2018.
"Exports are boosted by strong foreign demand, investments are finally picking up again, while the households' optimism and increasing income are driving consumption. The economy is growing fast, but credit demand is still weak, it seems because both households and companies are biding their time for large purchases and investments. However the improvement of economic sentiments, stable corporal finances, weak investments in the last years and the booming labor market will drive credit demand up and boost domestic demand in the next few years," says Swedbank chief economist Mārtiņš Kazāks.
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