Baltic Battles

December 2009
Global Finance;Dec2009, Vol. 23 Issue 11, p36
Trade Publication
The article focuses on the economic downturn in the three Baltic States in 2009. The recession in Estonia, Latvia and Lithuania is attributed to several factors including large spending cuts, gross domestic product (GDP) reduction and fixed exchange rates. It is also stated that before the economic crisis in 2008, Estonia, Latvia and Lithuania have indicated yearly growth rates of between 7% and 10% which are contributed by real estate, construction and tourism.


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