Portrait of an Ascending Sovereign Credit

Estonia EU-28: 1.6% Sweden Luxembourg Norway Bulgaria Czechia Denmark Source: Eurostat 29 Latvia Germany Netherlands 0.7 Lithuania Finland Romania Slovakia France Ireland Malta Austria Interest payments 2019, % GDP Poland Slovenia Belgium General government debt will increase but remain below 60% in medium term • Despite the projected debt increase in the medium term it is expected to be in line with Maastricht criteria Key Characteristics of Latvia's Government Debt General government debt is amongst the lowest in the EU at 36.9 % of GDP at the end of 2019. It is the 4th lowest in the Eurozone and the 9th lowest in the EU Latvia enjoys one of the lowest debt servicing costs across the region, significantly lower than the EU and Eurozone averages General Government Debt Year End (EUR million, % GDP, ESA methodology) 47% 46% 46% 45% 40% 39% 37% 37% Since March 2014 Latvia participates in the European Stability Mechanism, which provides additional financial stability to its members 13 341 13 804 14 530 14 911 10 245 10 519 10 816 11 247 Croatia United.. Spain Hungary Cyprus Greece Portugal Italy 8.4 Estonia Lithuania Luxembourg Latvia Malta 36.9 Slovakia Netherlands Source: Eurostat (24.08.2020.) T T 2016 2017 2018 2019 2020 F 2021 F 2022 F 2023 F Source: Eurostat (actual data 2016-2019), baseline scenario (Oct-2020) General Government Debt (Eurozone countries 2019, % GDP) Ireland Finland Germany Slovenia Austria 84.3 Euro area Spain Cyprus France Belgium Portugal Italy Greece 176.6

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