Banking group SEB cuts Latvia's GDP growth forecast for 2021

Banking group SEB cuts Latvia's GDP growth forecast for 2021 - World News


2021-01-26 17:05:29 GMT2021-01-27 01:05:29(Beijing Time) Xinhua English
RIGA, Jan. 26 (Xinhua) -- Sweden's largest corporate bank SEB has revised Latvia's GDP growth forecast for this year to 3.9 percent from 4.3 percent but expects the Baltic economy to show a sizable rebound in the second quarter of 2021, according to the latest Nordic Outlook published by SEB on Tuesday.
Latvia's economic growth forecast for 2022, however, has been upgraded to 4.6 percent from 3.5 percent as consumption and investment are likely to strengthen next year, according to the SEB report.
SEB analysts noted in the report that Latvia's economic recovery is currently on hold due to a recent steep resurgence of coronavirus infections and resulting restrictions, which have been "choking consumption".

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