Latvia governor assesses state of domestic economy

Ilmārs Rimšēvičs

Ilmārs Rimšēvičs, governor of the Bank of Latvia, delivered a speech on May 25 assessing the state of the Latvian economy and considering the future direction of monetary policy.

Speaking at a press conference, the governor noted the unexpected strong performance of the Latvian economy. "Growth will be higher than predicted earlier, exceeding 3% in the year overall. Against the backdrop of the European debt crisis it is a commendable result," he said.

With upward pressure from food and fuel

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