Feb 9 • 04:20 UTC 🇱🇻 Latvia LSM

Re:Check: Is the Prime Minister Accurate in Figures on Foreign Investments?

Latvian Prime Minister Evika Siliņa's claim about foreign investment growth for 2025 has been disputed by data from the Investment and Development Agency and the Ministry of Economics.

During a recent debate in the Saeima regarding foreign policy, Latvian Prime Minister Evika Siliņa from the 'New Unity' party asserted that the volume of foreign investments attracted in 2025 would be double that of 2024. She referenced statistics suggesting that the anticipated investments in 2025 would amount to 1.01 billion euros, compared to 655 million euros in 2024. However, this statement has been challenged by representatives from both the Investment and Development Agency and the Ministry of Economics.

Further scrutiny of the figures reveals that while there is indeed an increase in foreign investments, it is only a 1.54 times growth rather than the twofold increase claimed by Siliņa. If the investments had doubled, the amount attracted in the previous year would have needed to be higher by about a third. It is important to note that the term 'attracted investments' refers to potential investment projects, which may be realized in the future, rather than actual funds already invested. This distinction is crucial as it highlights the optimism in potential future investments rather than concrete financial contributions currently present.

The discussion around these figures reflects broader concerns about transparency and accuracy in government statements regarding investment and economic growth. Such claims can influence public perception and investor confidence, emphasizing the need for accurate reporting and realistic expectations about foreign investments in Latvia. As the government aims to promote its achievements, it must also ensure that the statistics used are credible and reflect the true investment scenario in the country.

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