on average 15 thousand euros per one inhabitant of Latvia

In the first nine months of 2021, the Latvian banking sector was able to earn more than in 2020, as well as more than in 2019. The value of banks’ assets exceeded the level of 2018, and the capital reached the level of 2017 and amounted to 3.11 billion euros, writes Press.lv portal.

Banks issued loans for 14.25 billion euros.

In turn, according to the State Treasury, the debt of the central government of Latvia in the third quarter reached 14.218 billion euros, which is 45.3% of the projected GDP, – an average of 15 thousand euros per inhabitant of Latvia.

Excluding other sources of loans such as non-bank lenders, corporate bonds and Altum loans, which this year amount to approximately 333.9 million euros and are essentially part of the cash flow in the state treasury, Latvia as a state, its residents and enterprises must 90% of the country’s projected GDP.

However, adding unaccounted sections, we are highly likely to be able to conclude that in aggregate we owe exactly as much as we are able to pass through the turnover in the country for a year.

Source: GOROD.LV – новости Даугавпилса by gorod.lv.

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