Economy
Average inflation in 2000 was 2.6% and 2.5% in 2001
Source: Ministry of Economy-Republic of Latvia
Unemployment as of December 2001 was 7.7 %
Privatisation
Only a few large state enterprises remain to be privatised , including the
Latvian Shipping Company 'Lasco' and the electricity utility company
'Latvenergo'. Around 50 entities including ports, the postal service, the
railway company, agricultural research and road maintenance units are, as yet,
excluded from privatisation .
Substantial changes have taken place in the economy of Latvia since the
regaining of independence in 1991. Private property dominates the ownership
structure. Foreign trade and prices are almost fully liberalised and the
majority of institutions needed for functioning of the market economy have been
established.
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Economic
Overview