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Latvia to see Baltics' fastest economic growth this year - European Commission

RIGA - The European Commission's latest economic forecast says that Latvia's gross domestic product will increase 3.5 percent this year, or more than in Lithuania or Estonia.

The Commission's forecast released today also says the Commission expects Latvia's economic development pace to slow down to 3.2 percent next year.

Inflation in Latvia is projected at 3.1 percent this year and 2.9 percent in 2019.

According to the Commission's forecast, Estonia's GDP will grow 3.3 percent this year and 2.8 percent in 2019. Inflation forecast for this year is 3.1 percent and 2.6 percent for 2019.

Lithuania's GDP is projected to increase 2.9 percent in 2018 and 2.6 percent in 2019, and inflation - 2.9 percent and 2.5 percent respectively.

Economic growth in the European Union and the euro area is projected at 2.3 percent this year and 2 percent next year.

Inflation forecast for the EU is 1.9 percent this year and 1.8 percent in 2019, and for the euro area - 1.5 percent and 1.6 percent respectively.

According to the Commission's forecast, Malta will be the fastest growing EU economy this year (5.6 percent, 4.5 percent in 2019), followed by Romania (4.5 percent this year and 4 percent next year), and Ireland (4.4 percent this year and 3.1 percent in 2019).

Economic growth will be the slowest in Great Britain (1.4 percent in 2018 and 1.1 percent in 2019) and Italy (1.5 percent in 2018 and 1.2 percent in 2019), the Commission believes.

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