The crisis caused by covid-19 has hit the world's economies hard, and none of them were ready for such a crisis. Countries that are able to act in a timely manner, have a high-quality healthcare system, have balanced economic development, can afford to india phone number list support the private sector, and have high-digital businesses and citizens are better off. The position of the nordic and baltic countries in the fight against covid-19 is rather india phone number list good. However, the crisis also highlights shortcomings. Līva zorgenfreija, swedbank's chief economist in latvia, analyzes what latvia is like and where improvements are needed.
Leading the way in crisis management crisis management in the nordic and baltic countries has been relatively good so far. On the one hand, good luck here. Covid-19 came to the countries of the region later, so we were able to prepare for the india phone number list first blow a little better than, for example, italy, and to limit the spread of the virus by reacting quickly rather than introducing measures that were completely suffocating the economy. On the india phone number list other hand, the economic impact is determined not only by the control of the spread of the virus, but also by the resilience of the private sector and the ability of countries to support the private sector, which has been severely affected by the virus and constraints.
It is no longer possible to succeed here alone, because the preconditions for overcoming the crisis more quickly are balanced past growth and long-term prudent fiscal policies. In the nordic-baltic business survey, we see that the countries in the india phone number list region are generally performing well in terms of both financial sector stability and macroeconomic stability. The baltic states, including latvia, are even stronger than the nordic economies in some respects, such as the private sector debt burden. At the same time, it must be admitted that the india phone number list latvian health sector is not in order, and its financing has been insufficient for years. Latvia also lags far behind its neighbors in terms of digitalization.