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2022 OECD Economic Outlook, Volume 2022 Issue 1

image of OECD Economic Outlook, Volume 2022 Issue 1

The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges.

This issue includes a general assessment of the macro-economic 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.

English Also available in: Italian, French

Latvia

The economy is projected to grow by 3.5% in 2022 and 1.6% in 2023. Export growth will slow due to the repercussions of the war in Ukraine, material shortages, and weaker economic activity in the EU, although strong demand for some of Latvia’s main export products, such as wood and food products, will soften the downturn. Inflation will stay high, reducing real wages and curbing private consumption. Shifts in external demand will lead to a moderate rise in unemployment.

English Also available in: French

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