Duplicity is making high tides among Latvia’s politicians. Leaders of state institutions are distrusted and lack authority, said Inara Petersone, former head of the State Revenue Service in an interview to Latvijas Radio.

Continued lack of supervision over the insolvency processes in the country has resulted to this field coming close to the level of organized crime. Insolvency processes are often abused and many schemes also show signs of relation to law enforcement institutions, judges and even political forces, which is demonstrated by generous donations of insolvency administrators’ to political parties.

Although global economic growth is expected to experience symptoms of anaemia, Eurozone’s GDP growth rate could reach 1.7% in 2016 and 1.8% in 2017. Perspectives for Latvia, Lithuania and Estonia are relatively good – growth will be dictated by private consumption and wage rise. However, it is starting to threaten competition, according to SEB Bank’s Nordic Outlook.

«We are a country with great funding needs – area, roads, state infrastructure – and low funding possibilities – small population and low GDP per capita,» – said economist Vyacheslav Dombrovskis during an annual road industry conference on Thursday, 7 April.

Although Latvia’s GDP is growing, the growth rate is gradually becoming slower. Latvia should be prepared to face a new crisis, said Ilmars Rimsevics, governor of the Bank of Latvia, in an interview to Rīta Panorāma.

According to the European Innovation Scoreboard 2015 report, the rating of Baltic States has not changed much since last year. However, this is not the same as a state of stagnation, as the adoption of innovations in all three countries is tied to many obstacles, overcoming which will definitely result in an economic breakthrough.

In the next couple of years, economic growth rate will no longer be representative of what happens in different components that form Latvia’s economy – regions and industries, notes DNB Bank’s economic expert Peteris Strautins.

Recession will remain in the economies of Russia and Ukraine, as stated in the latest Eastern European Outlook compiled by SEB Bank. Experts of the bank believe economic decline will remain in Russia next year as well. It is likely the extent of the decline will depend on oil prices and sanctions, which could be extended.

Wages have been continuously growing faster than productivity for many years in Latvia. This has not had much impact on Latvia’s external competitiveness so far, but we’ve seen signals that this is beginning to change. While export volumes continue rising, our exporters’ market shares stay the same.

In terms of military forces, the situation in Latvia has improved, but the international picture, unfortunately, has worsened. Such is the opinion that was voiced by Latvia’s ambassador to USA and NATO, Aivis Ronis, during the Economists Association autumn conference.