OECD Economic Outlook, Volume 2021 Issue 2
The global recovery from the COVID-19 pandemic is uneven and becoming imbalanced. The OECD Economic Outlook, Volume 2021 Issue 2, highlights the continued benefits of vaccinations and strong policy support for the global economy, but also points to the risks and policy challenges arising from supply constraints and rising inflation pressures.
This issue includes a general assessment of the macroeconomic situation, and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Also available in: French
Latvia
Strong economic growth is projected, but downside risks remain substantial as Latvia is experiencing its most severe wave of COVID-19 and vaccination has been slow. GDP is projected to grow by 4.3% in 2021, 3.6% in 2022 and 4.8% in 2023. Private consumption will lead the recovery, buoyed by unspent earlier government transfers to households, pent-up demand and the associated drawdown of precautionary savings. Exports will remain robust, despite global shortages of some key components. Unemployment will decrease gradually from 2022, falling close to its pre-crisis level. Inflation will ease, but remain above 2%.
Also available in: French
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