13 Mar 2014 19:32

Latvia GDP to grow 4.3% in 2014 - Finance Ministry

RIGA. March 13 (Interfax) - The Latvia economy has the potential to grow 4.3% in 2014, Finance Minister Andris Vilks said at a meeting of the Latvian Union of Municipalities on Thursday.

State budget implementation currently is more or less at forecast levels, he said.

The budget will be fulfilled this year, as planned, but tax revenue targets will not be exceeded as they were in previous years, Vilks said.

Inflation will average 1.1% in 2014 and 3% in 2015.

The budget assumes inflation will amount to 2.3% this year, but Vilks said actual inflation would be lower due to the decision to reschedule full liberalization of the electricity market to the start of 2015.