over 2 years ago

Latvia is considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, Latvia is able to provide its citizens with social services such as public education, healthcare, and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Latvia exports about US$12.67 billion and imports about US$15.56 billion every year. 8.3% of the country's population is unemployed. The total number of unemployed in Latvia is 160,185. In Latvia, 22.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Latvia is quite high, but it is not a cause for great concern in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 5% of GDP. The country's Gini index is 35.2. Latvia experiences good equality. The majority of Latvian citizens fall within a narrow income bracket, although some cases can show significant differences. Latvia has a Human Development Index (HDI) of 0.81. Latvia has a high HDI value. This suggests that the majority of citizens will be able to live a worthwhile life while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Latvia is 1.695. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Latvia is very safe in international comparison. The index of the strength of legal rights for Latvia is 9. Overall, it is considered quite strong – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; Credit information is plentiful and easily accessible.

Currency The currency of Latvia is the euro. There are several plural forms of the name "euro". These are euros, euros. The symbol used for this currency is €, abbreviated to EUR. The euro is divided into cents; 1 euro is 100.

Credit rating The creditworthiness depth index for Latvia is 6, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the credit rating agency S&P, Latvia has a credit rating of A- and the prospects for this rating are stable. According to the Fitch rating agency, Latvia has a credit rating of A- and the prospects for this rating are stable. According to the rating agency Moody's, Latvia has a credit rating score of A3 and the prospects for this rating are stable.

Central bank In Latvia, the institution that manages the state's currency, money supply and interest rates is called the Bank of Latvia. Locally, the Latvian central bank is called Latvijas Banka. The average interest rate on deposits offered by local banks in Latvia is 0.2%.

National debt Latvia has a public debt of 39.3% of the country's gross domestic product (GDP) as estimated in 2012.

Control information Corporate tax in Latvia is 15%. Personal income tax ranges from 24% to 24% depending on your specific situation and income level. VAT in Latvia is 21%.

https://www.confiduss.com/en/jurisdictions/latvia/economy/