The Ministers of Finance of the three Baltic states discussed euro area developments and enlargement, the economic situation in the region, priorities of the Lithuania’s Presidency of the EU Council, preparations for a new period (2014-2020) of the EU structural assistance and other issues.

On Friday, March 15th, the international rating agency Moody's Investors Service, Inc. (Moody’s) has upgraded Latvia’s credit rating by one notch, establishing a positive future outlook for credit rating (Outlook Positive). Evaluation of Latvia for long-term obligations in foreign currency is upgraded from Baa3 to Baa2.

Year 2012 was very successful for the economy of Latvia and economic growth is substantially better than it was forecasted at the beginning of the last year. Gross domestic product (GDP) in 2012 has increased by 5,6%, prevailing the achieved 5,5% in 2011.