Latvia's central bank praises euro currency's beneficial effect on economy

Source: Xinhua| 2019-01-03 01:38:43|Editor: yan
Video PlayerClose

RIGA, Jan. 2 (Xinhua) -- The five years Latvia has spent as a member of the eurozone have benefited the Baltic country's economy by boosting stability and offsetting geopolitical risks, Martins Kazaks, a member of the Bank of Latvia Council, said on public radio Wednesday.

The official of the Latvian central bank compared membership in the eurozone to the insulation of a house, adding that good insulation does not mean that the tenants can forget about heating, namely, health care, education and other essential areas affecting the economy and its growth.

The stronger the Latvian economy the better it will be doing both in good and bad times for the global economy, Kazaks said.

Being a part of the eurozone also means that money costs less and borrowing and investing are less expensive, the Bank of Latvia official said, adding that currency exchange operations have also become cheaper for Latvia as an eurozone country, allowing to save up to 70 million euros a year, according to the central bank's estimates.

Kazaks also projected that the European Central Bank's rates might be raised in the fall if the state of the economy is found to be strong enough.

The Bank of Latvia representative said that like elsewhere in the world, economic growth in Latvia is expected to become more moderate in the following years.

Latvia switched from its national currency, the lats, to the euro on Jan. 1, 2014.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105521377154881
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
一区二区国产盗摄精品 | 又粗又深又猛视频国产 | 亚洲国产日韩精品一区二区 | 亚洲欧美精品一区二区三区 | 视频一区二区三区四区在线综合网 | 日本婬片在线视频 |