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Apinis, Martins

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5 articles of this author have been cited in the European Press Review so far.

Dienas Bizness - Latvia | 08/10/2015

Exodus to Europe: Latvia's economy could use more migrants

Some European countries could even benefit from the wave of refugees, the business paper Dienas bizness points out: "What we observed not long ago with scepticism and fear could become an opportunity. Just a short while ago Europe was talking about social uncertainty and rising crime rates. Now people are talking about the economy, which many see as the area that most stands to benefit from the new arrivals. Not just because homes for asylum seekers will be built and food sales will increase. No: Europe's population is growing older, and we will lack workers and taxpayers in the coming years. ... But compared to Germany Latvia stands to gain little from the refugees. In the past six months just one thousand of all the free jobs were filled. Have no fear, the refugees won't take jobs away from the Latvians - but at the same time the Latvian economy will hardly benefit from the refugees."

Dienas Bizness - Latvia | 09/09/2014

Latvia still anxious over vegetable embargo

One month after the introduction of the Russian import ban on European fruit and vegetables, Latvian farmers are doing better than expected but they're not out of the woods yet, the business paper Dienas bizness writes: "As it turns out, Latvia hasn't been flooded by cheap Polish vegetables. However the overall situation is uncomfortable, and we must brace ourselves for future losses. Hopefully only in the short term. Not surprisingly, the countries that were supposed to serve as alternative food sources after the first EU sanctions weren't able to fill Russia's empty shelves. September isn't exactly the best time for embargoes. No one had any idea at the start of the year that Russia would switch to new partners for agricultural products right when the harvest would start. All the Latvians can do is set their sights on the Belarusian market in the hope that at least some of their products can enter Russia through this indirect route."

Dienas Bizness - Latvia | 26/06/2014

Deflation can be good for Latvia in short term

The most recent figures put out by the Central Statistical Bureau of Latvia show that industrial producer prices fell in May for the first time since 2010. The business paper Dienas bizness believes that could be a good thing at least in the short term: "Changes in producer prices can normally be seen as an indicator of a country's economic fitness. ... It was in March four years ago [during the last deflation period] that the economic crisis reached its lowest point in Latvia. Now, however, the Latvians can relax and hope that - at least this year - not only their living standards but also their salaries will rise. Unfortunately that won't remain the case in the long term because deflation will curb economic recovery in Latvia. In a best case scenario this will only cause problems for the retail trade. But in the worst case the number of orders will drop and unemployment will rise once again."

Delfi - Latvia | 27/05/2008

High oil prices could trigger another burst of inflation

Latvia has one of the highest inflation rates in the EU. Martins Apinis fears the high price of oil could lead to another surge in inflation, as well as rising production costs in Latvia. "The oil price has already reached 135 dollars per barrel and gas utility 'Latvijas gaze' may start charging higher rates next autumn. The situation is very unpleasant, and the only consolation for both producers and the end consumer is that prices for raw materials on the global market are inflated at the moment. This means it is entirely possible that energy prices could fall, pre-empting another round of inflation. Otherwise production costs could rise in Latvia, and this effect could spread to other countries like the CIS states for instance."

Delfi - Latvia | 19/09/2006

Latvia's growth on credit

Latvia's economy grew by 12 percent in the first half of 2006, making it one of the world's fastest-growing economies. Martins Apinis warns about the dangers of this phenomenon, pointing out that one of the main factors behind the growth is the boom in borrowing. "According to the Financial and Capital Market Commission, Latvian banks accumulated a credit portfolio of 10.9 billion euros in the first six months of 2006. That's 59 percent more than in the same period last year. This is particularly noticeable in the construction and real estate sector, which in turn influences trade and production. But although experts say the property market will continue to boom for a while, people are worried about the high inflation. An economy whose growth is based on rising consumption cannot be a good one – particularly when the rate of growth for production and exports is decelerating at the same time."

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