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The Latvian economy is really looking very robust: a) It has by now being growing 34 quarters in a row since overcoming the recession in 2010, b) wages are also growing briskly, which should please employees (but employers less, of course), c) inflation is not a problem at the moment, d) the government’s finances are mostly robust and sustainable and e) unemployment has been coming down for eight years in a row, in the country as well as in every region of the country, see Figure 1, and almost everywhere is unemployment down to levels last seen before the financial crisis.
This puts the Latvian economy in a very positive – and rather new – spot: The economy displays a large degree of stability and predictability, where the past was often best described by a roller-coaster experience: Phenomenal but credit-fueled growth 2000 – 2007 followed by a deep recession 2008 – 2010.
