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Raihan Ali
May 10, 2022
In Money Saving Forum
The risks we identified in previous economic reviews USA Phone Number List are materializing. The spread of the virus has led to restrictions, global prices are rising faster than expected and supply chain disruptions continue. This affects both inflation rates and real economic growth. However, in the first half of the year, the Latvian economy surprised us with a USA Phone Number List increase in gross domestic product (GDP), and despite the difficulties, the decline at the end of the year is still unexpected. This makes us revise Latvia's GDP forecast upwards to 4.7% this year. The forecast for next year has been slightly reduced to 4.7% due to these obstacles. In turn, in 2023, the growth rate will remain above potential, reaching 3.5%. Inflation forecasts have been raised to 3.1% and 4.5% this USA Phone Number List year and next, respectively, but in 2023 inflation will fall to 2.4% as global price pressures subside. Global demand is still well above supply The global economy cannot complain USA Phone Number List about weak demand for goods, but the supply side, while building muscle, is unable to keep up. As early as the third quarter, several major economies, such as China, Germany and the United States, saw lower-than-expected economic growth, largely due to a shortage of energy, raw materials, manufacturing components and high labor-intensive labor. This has led to a lowering of GDP forecasts in the already mentioned economies both this year and next. It must be said that the problem of lost balance is long USA Phone Number List overdue, but the solution is likely to come by adapting to supply and demand on both sides. On the supply side, investments are being made, companies are increasing their production USA Phone Number List capacity, new ships are being built to reduce congestion and wages are being raised to attract them back into the labor market. On the other hand, demand for goods, especially in the United States, is currently volatile. This is due both to the fact that the virus continues to hamper the ability of the population to consume services and to the fact that the focus of companies has shifted from a 'just in time' to a 'if any' approach
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Raihan Ali

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