Latvia: the transition to a market economy by World Bank

Latvia: the transition to a market economy by World Bank

By World Bank

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Example text

The worsening of the terms of trade not only depressed activity further, but also reversed the gains generated in 1991. 5 percent of the labor force during the first part of 1992, increased to 2 percent by early November 1992. Unemployment is expected to increase sharply in the near future as enterprises undergo restructuring. The unfavorable developments in 1992 also had an adverse impact on public finances. Profit and income tax revenues declined sharply and enterprises' tax arrears increased substantially.

Telecommunications 137 Structure 137 Recent Performance 140 Institutional and Policymaking Framework 142 Sectoral Policies and Issues 142 Investment Program and Priorities 145 Recommendations 148 Chapter 10. Housing and Municipal Services 151 Structure and Recent Performance 151 Institutional and Policymaking Framework 155 Sectoral Policies, Issues, and Reform Measures 155 Investment Programs and Priorities 160 Recommendations 160 Chapter 11. Health 163 Structure and Recent Performance 164 Institutional and Policymaking Framework 166 Sectoral Policies and Issues 167 Recommendations 169 Chapter 12.

Local governments should become capable of assuming responsibility for road networks not covered by the National Roads Administration. In the medium term, improved decisionmaking tools should be applied throughout the sector. A strategy for promoting multi modal transport should be developed and periodic road maintenance contracts should be introduced. Spare parts and other supplies are urgently needed in public transport, as well as investments in road maintenance, trucking, railways, aviation, and ports.

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