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Latvia’s new three-party coalition will probably last

Thursday, December 22, 2022

Significance

The October 1 parliamentary election gave Krisjanis Karins, Latvia’s first prime minister to serve a full four-year term, a clear mandate to form a government. His New Unity (JV) won the largest share of the vote and more than trebled its seats to 26 in the 100-member parliament.

Impacts

  • The Stability party will be a far more populist voice for Russian-speakers in parliament than Harmony.
  • Karins will have to cope with persistently high inflation driven by world food prices and domestic wages, the central bank forecasts.
  • Inflation will prompt a pronounced drop in household consumption in 2023, reducing growth and living standards.

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