Business in Latvia 2014

The year 2014 brings another thing from the Europe Union to the Latvian business system - Euro. A new currency, now used in the most of the EU countries, brings new business opportunities, easier payments and lower fees on currency handling. As there are many things that may happen to the economic system since the introduction on euro one can only hope the best. The business should grow and should the count of newly formed businesses. As so the Euro-zone should bring new heights to the Latvian economy and so increasing the GDP and even reduction of the public debt.

 The ease of starting a business in Latvia

Most of the statistic below are from doingbusiness.org
As with every passing year 2014 is no different, with an even better score that the previous years. Due to some reforms that took place when the euro replaced the lat, it's even easier to from a business in Latvia. The time taken and costs of incorporation have decreased. Less effort is required to gain construction permits. Since there in no longer a cost for currency exchange, trading across borders is easier than ever

Changes that have already taken place

An article on the changes that have already taken place in the fist quarter of 2014 due to Euro in Latvia - News.

Expected increase in the GDP

Most of Latvian bank forecasts suggest a increase of around 4% in the Gross domestic product of the year 2014. The expectation at the end of 2013 was around 4.7%. But the first quarter of this year has already passed and the expectations have been lowered to around 4.3%. The same amount if increase is expected in the following year of 2015.

More information on the introduction of euro in Latvia here (RU).