Despite unity and friendly relations, the Baltic countries are constantly compared to each other. Unfortunately, recent data indicate that Latvians are significantly lagging behind their brothers in many indicators, writes LA.LV.
This is the first case in the history of the development of the Baltic states and nations where Lithuanians are wealthier than Latvians. Looking back over the last 300 years of history, Latvia, especially Riga, was the wealthiest part of Livonia, while Lithuania always lagged behind — it was a more agrarian and less urbanized part of the Baltic region.
"The cultural awakening and national revival in Lithuania occurred later, but over the last ten years, Lithuanians have overtaken us," noted Daunis Auers, chairman of the board of the LaSER analytical center, in the TV24 program Latvijas labums.
At the same time, he pointed out that Latvians still have higher potential for one important reason.
"Riga remains the only metropolis in the Baltics – its scale, historical center, and port can compete with Helsinki and Stockholm!" – he emphasized.
It was previously reported that in November, Finance Minister Arvils Ašeradens met with Lithuanian Finance Minister Kristupas Vaitekunas to discuss the macroeconomic situation in both countries, cooperation in regional competitiveness, planned changes in the tax system, capital market development, as well as challenges in budget development. During the meeting, the parties confirmed the close partnership between Latvia and Lithuania and its significance for the growth of the Baltic region.
"Latvia and Lithuania are connected not only by deep historical ties but also by stable and long-lasting cooperation based on common interests and responsibility for the development of our region. Our economies continue to demonstrate resilience and the ability to adapt to the current complex geopolitical situation. I highly appreciate the ability of our Lithuanian colleagues to ensure stable economic growth, which is forecasted to be the fastest among the Baltic countries next year. Our shared commitment to fiscal discipline and sustainable development will help us overcome global challenges and strengthen the position of the Baltic region in Europe," stated Finance Minister Ašeradens.
During the meeting, the ministers discussed the economic development of both countries and forecasts. The Finance Minister also pointed to the recovery of Latvia's economic growth – GDP increase, investment growth, utilization of EU funds and the Recovery Fund, as well as the activation of lending after a prolonged stagnation. The influence of the external environment, including declining inflation and rising private consumption, was also discussed.
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