RIGA, April 16 (Xinhua) -- The International Monetary Fund (IMF) has revised downward Latvia's economic growth forecast for this year in its latest World Economic Outlook released on Tuesday.
The Baltic country's GDP growth forecast for this year has been cut to 1.7 percent from last October's forecast of 2.6 percent. The report predicts that Latvia's economy will grow by 2.4 percent next year.
The IMF projects Latvia's annual inflation for this year at 2 percent. Next year, inflation is expected to rise to 3.6 percent.
According to the IMF's estimates, unemployment in Latvia should stay at 6.5 percent this year and next.
Latvia's current account is likely to run a deficit at 3.8 percent of GDP this year. Next year, it is forecast to increase to 3.9 percent of GDP, according to the IMF report. ■
