EBRD economists discover that Baltic states are growing faster than the coffee line in downtown Liepāja
Economics experts are surprised to find that Latvia's GDP is growing faster than the line at Liepāja's tram ticket booths.
The European Bank for Reconstruction and Development announced this week that Latvia's economy will grow by 2.2 percent this year, which is 0.3 percentage points more than forecasted in September. This means our economy is growing almost as fast as the line at the popular café in downtown Liepāja on Saturday morning.
Local economics expert Valdis Bērziņš from Karosta explains the situation: "Well, you see, when wages start rising, people spend more. And when they spend more, the economy grows. It's like with our tram — the more people ride it, the better it's doing." Bērziņš adds that he never studied economics, but has been riding the tram for 30 years.
Particularly encouraging is the news about mortgage loan growth. Banks are issuing loans faster than they sell hot sausages at Liepāja market. "I thought I'd never have money for a house, but turns out — I do!" says Liepāja resident Ināra, who just bought an apartment with a view of the port. "Now I just have to wait for the economy to grow enough so I can actually pay back that loan."
For comparison — in Rīga, economists are still trying to figure out why their forecasts never match reality. But we in Liepāja know — everything here is simpler and clearer, just like the view from Karosta prison tower.
⚠️ Satirical article. Facts are preserved, but the presentation is humorous. For accurate information, please refer to the original source.