OECD pre­dicts Latvia the most rapid GDP growth in Baltics

Baltic News Network - - Front Page -

Ac­cord­ing to pre­dic­tions from the Or­ga­ni­za­tion for Eco­nomic Co-Op­er­a­tion and De­vel­op­ment, Latvia may ex­pe­ri­ence the most rapid GDP growth among Baltic States in 2018-2019 – 4.5% this year and 3.6% next year. Es­to­nia’s GDP growth is planned at 3.7% this year and 3.2% next year, whereas Lithua­nia’s GDP growth may reach 3.3% this year and 2.9% next year, as re­ported by Econ­omy Min­istry.

OECD sec­re­tary gen­eral An­gel Gur­ria said dur­ing the pre­sen­ta­tion of OECD Eco­nomic Out­look 2018 that sus­tain­able growth of OECD mem­ber states re­quires struc­tural re­forms, be­cause mon­e­tary and fis­cal pol­icy took are start­ing to lose their po­ten­tial. In terms of re­forms, a cer­tain de­gree of stag­na­tion has been no­ticed in mem­ber states over the years, es­pe­cially when com­pared to other economies, such as In­dia, Brazil and Ar­gentina, which con­tinue re­al­iz­ing struc­tural re­forms in a con­se­quent man­ner.

It is ex­pected that In­dia and China will soon se­cure 50% of the global eco­nomic growth in the next two years.

This is why OECD in­vites mem­ber states to con­tinue us­ing ben­e­fi­cial na­tional eco­nomic growth pe­riod to in­vest in ed­u­ca­tion, skill-de­vel­op­ment and dig­i­tal in­fras­truc­ture to help in­crease pro­duc­tiv­ity and re­duce in­equal­ity, as well as re­duce ex­ter­nal debt level and form fis­cal re­serves. Read more on bnn-news.com

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