Re:Check: Is the Prime Minister Accurate in Figures about Foreign Investments?
The Latvian Prime Minister, Evika Siliņa, inaccurately stated that foreign investments will double in 2025 compared to 2024, when in reality the expected growth is 1.54 times based on current estimates.
During debates on foreign policy in Latvia's Saeima, Prime Minister Evika Siliņa emphasized the government's achievements, including a significant claim regarding foreign investments. She stated that the volume of attracted foreign investments for 2025 would be double that of 2024. However, when examining data from the Investment and Development Agency of Latvia and the Ministry of Economics, the figures reveal a different story. They reported that while expected investments in 2025 stand at €1.01 billion, the amount in 2024 was €655 million, reflecting an increase of only 1.54 times rather than the claimed doubling.
The discrepancy in the Prime Minister's statement raises important questions regarding the definitions used in investment reporting. The term "attracted investments" refers to potential projects that have not yet been realized or funded, highlighting that these numbers do not necessarily indicate actual foreign investment already in place. The uncertainty surrounding the realization of these investments compared to what is being presented in political discourse is crucial for understanding the actual economic growth potential for Latvia.
This situation not only reveals potential miscommunication or exaggeration in government statistics but also emphasizes the importance of accuracy when portraying economic prospects to the public and stakeholders. As Latvia strives to boost its foreign investment appeal, clarity in reporting will be essential to maintain credibility and foster genuine investment interest in the country.