Latvia was unique in recording a current account deficit as high as 27% of GDP during the peak quarters, and stunned the world by sustaining it above 20% for two years in a row. Inflation peaked at 18%, and real estate prices more than doubled in just a few years.
At the same time, this is a proof that by strengthening our economy, primarily through the reduction of external and internal imbalances and through favourable macroeconomic prospects, we have increased its resilience to unfavourable effects from the international environment.