2019 OECD Economic Surveys: Latvia 2019

image of OECD Economic Surveys: Latvia 2019

Latvia enjoys strong economic growth and the catch up with living standards in higher income OECD countries continues. Much remains to be done, though, to close the remaining gap and improve equal access to social protection and economic opportunities. Latvia faces one of the fastest declines in its working age population among OECD countries due to ageing and migration. Strong productivity growth is needed to counter this demographic challenge and improve living standards faster. The Economic Survey calls for more investments in skills, research and innovation and efforts to strengthen competition. It also stresses the need for more spending on health, social protection and housing for a more inclusive society. The capacity of the judiciary and law enforcement agencies needs to be strengthened to improve trust in institutions, address corruption, high levels of informality and money laundering issues.


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Basic Statistics of Latvia, 2018

(Numbers in parenthesis refer to the OECD average)a

This Survey is published under the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Latvia were reviewed by the Committee on 8 April 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 9 May 2019.The Secretariat’s draft report was prepared for the Committee by Naomitsu Yashiro and Caroline Klein under the supervision of Nicola Brandt. The Survey also benefitted from consultancy work by Olga Rastrigina and Ania Thiemann and joint research with Konstantīns Beņkovskis and Oļegs Tkačevs. Statistical research assistance was provided by Corinne Chanteloup and editorial support was provided by Elisabetta Pilati. The previous Survey of Latvia was issued in September 2017.Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys.


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