Interesting comment Basil77.

Quote Originally Posted by Wikipedia
Until the middle of 2008, Latvia had the fastest developing economy in Europe. In 2003, GDP growth was 7.5% and inflation was 2.9%. Unemployment was 9% in 2003 - 2005;

however, in 2009 it rose to 23% and is the highest in the European Union. Privatization is mostly complete, except for some of the large state-owned utilities. On May 1, 2004, Latvia joined the European Union.


The Financial Crisis of 2008 is still affecting the Latvian economy, primarily as a result of the easy credit bubble that began building up during 2004. The bubble burst lead to a rapidly weakening economy, resulting in a budget, wage and unemployment crisis. [9]

Latvia had the worst economic performance in 2009, with annual growth rate averaging -18%.
This explains what I am seeing. Men who should be working are sitting around boozing and everybody's been too busy privatizing that nobody had time to worry that the roads are falling apart and the houses haven't been painted or renovated since the 1980s...

Apparently the monthly income is about 500 - 600 USD which is about the same as Belarus, only in Belarus things like food and travelling are A LOT cheaper, other than imported technology, designer clothes etc.

The two countries are at the OPPOSITE way of how to deal with the post - Soviet situation.

I think that Russia has subsidized Belarus quite a bit, while the EU has subsidized Latvia quite a bit.
To me, there are pros and cons with both systems, emotionally I am more drawn towards the Belarussian model, practically I am aware that the Latvian approach is considered by most to be sounder