Japanese credit rating agency R&I upgraded Latvia`s credit rating 31/01/2018
On Monday, January 15, Japanese credit rating agency R&I upgraded Latvia`s credit rating to A- from BBB+ and assigned stable rating outlook.
R&I note that upgrade for Latvia`s credit rating reflects government implemented fiscal policies, stability of the financial and banking systems and economic development. Moreover, despite geopolitical risks, slow absorption of European Union funds and higher wages, Latvia will continue to show stable economic growth.
Looking back to 2017, we can conclude that Latvia's economic growth has increased substantially, reaching the strongest growth over the last six years. In 2018, strength for the national economy will ensure implementation of the Tax Reform, which is a historic step towards to a stronger and more competitive state. So far, the 3 major credit rating agencies have evaluated Latvia in A rating group, but with Japanese rating agencies R&I rating upgrade for Latvia, we are pleased that Latvia is a full-fledged A rating country, says Finance Minister Dana Reizniece-Ozola.
R&I outline that over the medium-term the demography shifts shall draw the attention as the population of Latvia continue to decline due to a negative natural growth and working-age population emigration to other European Union member states. The shrinking population could have a weigh on social security and healthcare spending and also hamper economic growth.
R&I positively evaluate the implemented tax reform, although reminds that actual results of the reform will be seen only after a while.
Minister for Finance Jānis Reirs: Institutional cooperation and effectiveness is of vital importance for the development of the financial sector05/06/2019
SIGN UP FOR NEWSLETTER
SIGN UP FOR NEWSLETTER
Ministry of Finance processes personal data according to the laws and regulations. Before providing your personal data, please get acquainted with data proceeding procedure. In order to provide information accessible for the society, photos, as well as video and audio records might be made within the premises of the Ministry of Finance.
Tālrunis uzziņām: 67095405
Lietvedības tālrunis: 67095578
Adrese: Smilšu iela 1, Rīga, LV-1919, Latvija