The Fiscal Discipline Council has approved the Ministry of Finance (MoF) macroeconomic forecasts for the development of the 2022-2025 stability programme, but notes that the MoF's estimates for economic development in the coming years could be significantly affected by epidemiological and geopolitical risks, high energy prices, inflation, the shadow economy, as well as political risks, representatives of the Fiscal Discipline Council informed the LETA agency.

At its meeting on 10 February this year, the Fiscal Discipline Council approved the MoF's macroeconomic forecasts, which project a 4% increase in Gross Domestic Product (GDP) this year, and 3.9% in 2023. GDP growth is projected at 3.4% in 2024 and 2025.

According to the Council, the economy has now entered a new growth cycle, yet this growth is threatened by several macroeconomic risks, including inflation and labour market tensions, as well as other risks. Calculations by both the MoF and the Council suggest that in 2024-2025, the economy may begin to operate above its potential.
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