Home > Latest News > Re:Baltica: Inequality Undermines Latvia’s Economic ‘Success’

Re:Baltica: Inequality Undermines Latvia’s Economic ‘Success’

October 19, 2012 Leave a comment Go to comments

20:56, October 18, 2012

Having survived the global recession and entered a period of fiscal growth, the Baltic country of Latvia is now widely considered an economic success story. 

But an investigation by OCCRP partner Re:Baltica found that the country in fact has the highest income inequality rate in the European Union, and some of the highest poverty and unemployment rates as well.

Latvia’s radical wealth disparity is perpetrated by unjust social policies, Re:Baltica’s report found. The government spends more than most European countries on supporting children from middle- and high-income families, but less than almost any other EU country on social benefits that target the poor, according to the World Bank.

Armenian News

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