Economic development criteria of the southern of Latgale [Latvia]

Development potential of Latgale region is varied, which points to several development possibilities and perspectives of the national economy. Differences in the level of development in the subregion show the unequal development tendencies. To balance the socio-economic situation, it is necessary to have a targeted state support activity, active initiative of the Southern Latgale population, innovative approach, and willingness to change the situation. Territorial characteristics, different values and needs point to the necessity for a diverse and appropriate for a particular territory use of support means aimed at national and international development. Such targeted regional policy in a predictable time period could reduce inequality among people living in different parts of Latvia and promote their capacity. In the current situation, it is important to unite the resources, ideas, and efforts in order to promote economic activity in the Southern Latgale by defining and implementing economic and strategic development criteria that would stimulate a balanced and sustainable development of the subregion. The aim of the research is to identify and evaluate the major criteria of economic development opportunities of the Southern Latgale. The paper includes a part of the author’s research on the potential evaluation and determination of development directions of the Southern Latgale. Criteria mentioned in the paper are derived from the analysis of current situation in the Southern Latgale, by researching and determining the development direction criteria, conditions of the Southern Latgale that are essential growth drivers in the research area. The following economic research methods as monographic, comparative analysis and synthesis, deductive, inductive, constructive logic, qualitative (profound interviews with 9 experts) and quantitative (questionnaire survey) methods are used in the present research.