0000000000868022
AUTHOR
Antonina Broyaka
Assessment of the economic development of Latvia and Ukraine
The global financial crisis and the ensuing global recession not only adversely affected global growth and poverty, but also presented constraints and challenges to public policy. Even though the world economy is slowly returning to growth, the recovery was difficult and lasted for almost 10 years. Preparing for the future requires an assessment of the consequences of the crisis and future challenges. Since 2010 economic growth in Latvia has been one of the fastest in the EU (from 2011-2018, GDP, on average, increased by 3.5% annually), however in 2019 economic growth has moderated. Growth opportunities are limited both by the uncertainty in the external environment (“trade wars” on the glo…
Impact of the Coronavirus pandemic on the economic development of Ukraine and Latvia
The COVID-19 pandemic that has swept the world has created a number of diverse threats to the development of the countries’ economies, including Ukraine and Latvia. An adequate assessment of these threats is very difficult and, moreover, often has a probabilistic character due to their singularity and novelty. The COVID-19 crisis mainly affected the tertiary sector, in particular companies involved in tourism, international passenger transport, accommodation, catering, entertainment, and cultural events, where demand fell sharply, and jobs fell. They were also followed by a contraction in demand in the manufacturing and transport sectors, which were mainly oriented towards external demand a…