RIGA, Oct. 14 (Xinhua) -- The International Monetary Fund (IMF) has downgraded Latvia's gross domestic product (GDP) growth forecasts for this year and next, according to the IMF's latest World Economic Outlook, published on Tuesday.
In the report, the IMF forecasts Latvia's economy to grow by 1 percent this year and by 2.2 percent next year, instead of its April forecasts of 2 percent this year and 2.5 percent in 2026.
According to the latest forecasts, inflation in Latvia is expected to be 3.8 percent in 2025 and 2.6 percent next year.
On Tuesday, the Latvian government approved the country's 2026 budget bill, forecasting its economic growth at 1.1 percent this year and 2.1 percent in 2026. ■
