Latvia has fallen by 5 positions


The fact that Latvia has fallen by 5 positions in the global competitiveness index, testifies to a sad signal for investors, the president of the Latvian Chamber of Commerce and Industry, Aigars Rostovskis, told the LETA agency.

Over the past five years, Latvia has not made any breakthrough in competitiveness, while other countries have been building up capacity in this position, Rostovskis said. “Unfortunately, by many grounds, we objectively lag behind the developed countries”

He also reminded that Latvia’s competitiveness in comparison with other countries had a bad effect on life in general, this led to a decrease in the population, to a mass departure of residents. The number of pensioners is growing faster than people coming to the labor market. Therefore, development is largely illusory.

In order to stop the decline in competitiveness, Latvia should revise its tax policy and start structural reforms, “Now we are moving as if by inertia”, – added Aigar Rostovkis.