Swedbank has cut Latvia's economic growth forecast to 2.5% in 2014, reports LETA/Nozare.lv.
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In 2015, Latvia's economic growth could increase by 2.6%. In 2016, Latvia's gross domestic product could increase by 3.5%, senior economist at Swedbank Lija Strasuna informed LETA.

In April, Swedbank lowered its original forecast for gross domestic product (GDP) growth from 4.8 to 3%.

Meanwhile, inflation in Latvia could remain moderate, 0.8% in 2014.

The Central Statistical Bureau indicates that in the second quarter of 2014, Latvia's national economy has grown by 2.5%. According to seasonally adjusted data, as compared to the first quarter of 2014, Latvia's GDP grew one percent in the second quarter of 2014.

In the first quarter of 2014, GDP increased 2.8% (seasonally non-adjusted data), as compared to the first quarter of 2013, whereas in comparison with the fourth quarter of 2013, it grew 0.6% (seasonally adjusted data). In the first quarter of 2014, GDP at current prices comprised EUR 5.3 billion.

In 2013, Latvia's GDP grew 4.1%.

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