Latvia is a beautiful country located in North-Eastern Europe. Latvia has borders with Estonia, Russia, Belarus and Lithuania. For centuries, Latvia was known as an agricultural country, with seafaring, fishing and forestry as important factors in its economy. According to BBC news (2015). Latvia was occupied by the Soviet Union between 1940 and gained its independence in 1991. It has a population of two million and 30% of the population are Russian, (Thompson, 2013). Latvia Economy grew by 50 between 2004-2007. However, Latvia's economy shrank in 2008-2009. Based on BBC News (2015), "Sbsequent deep public spending led to further discontent, but earned Latvia an IMF/European Union 7.5bn euro ($10bn) bailout. This helped recovery and Latvia returned to growth in 2011, and by late 2012, its economic revival was the European Union's strongest"
References
BBC News. (2015). Latvia profile - overview. Retrieved from
Thompson, M. (2013). Euro gets 18th member. tini Latvia. CNN Money. Retrieved fromhttp://money.cnn.com/2013/07/09/news/economy/latvia-euro/
