Since regaining its independence in 1991, Latvia has transformed
its economy. The country boasts a strong currency and a liberalized
economy. The privatization of small and medium-size companies has
been fully achieved and the private sector accounts for more than
75 % percent of the GDP. Most prices have been freed, and the trade
regime has been liberalized in all sectors.
2004 Index of Economic Freedom
Rank |
Score |
Trade Policy |
Fiscal Burden |
Government Intervention |
Monetary Policy |
29 |
2.36 |
2 |
2.6 |
2.5 |
1 |
Foreign Investment |
Banking and Finance |
Wages and Prices |
Property Rights |
Regulation |
Informal Market |
2 |
2 |
2 |
3 |
3 |
3.5 |
Source: Heritage Foundation, 2004
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