Since Latvia adopted the euro, the country’s economic growth has been strong, said European Central Bank (ECB) vice president Luis de Guindos at a conference “Five Years with the Euro” Jan 7.
He underscored that Latvia suffered seriously during the financial crisis, but still, after joining the euro area, its economic growth has been strong. Hes aid that in the first three quarters of 2018 Latvia’s economy has risen 5 percent which is one of the highest indicators in the EU and the euro area.
“It is important that Latvia’s economic growth is balanced and more flexible now. At the same time, Latvia should strive to increase its gross domestic product per capita,” he said.
He pointed that Latvia’s reforms in the financial sector, the fight against money laundering and terrorism financing, as well as reduction of the non-resident customers of banks.
