I look forward to promoting stronger U.S.-Latvia ties and working with AmCham members to ensure Latvia is a trusted destination for international business.
John Tully, Chairman of the Board of MikroTik
The first luncheon of 2019 featured Mārtiņš Kazaks, Member of the Council of the Bank of Latvia as a guest speaker and took place on January 11th at Grand Palace Hotel. The Member of the Council of the Central Bank introduced members to the main operations of the Bank of Latvia. He emphasized that the Central Bank is not only a regional euro cash storage & logistics center in the Baltics, but also a provider of key infrastructure for interbank settlements as well as such innovative payment services as "Zibmaksājums".
According to Mr. Kazāks, Latvia remains among the fastest growing economies in the EU and a leader among the Baltic countries, however, our incomes are still lagging behind those of the closest neighbors. Latvia's economic growth (GDP) is projected at 3.6% this year and 3.5% next year. Inflation will stay moderate with price pressures shifting from external to domestic factors as the labour market tightens further. On the labor market, with unemployment declining further and the demand being high, wage growth will remain quite solid.
About the Speaker:
I'm delighted to be part of business community which strives to improve the business environment.
Roberts Melbardis, Country Manager, Encompass Digital Media Latvia