bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 21.08.2017 | Name days: Linda, Janīna
LatviaLatvia

Dombrovskis: Latvia's place is at the core of Europe

FaceBook
Twitter
Draugiem
print
(+1 rating, 1 votes)

Valdis Dombrovskis

Joining the euro in 2014 remains one of Latvia’s strategic goals as it recovers from the economic crisis. Latvia still intends to play its full part as a core member of the European Union, its PM Valdis Dombrovskis writes in an article published in Public Service Review: European Union.

“In 2008, when Latvia became the worst hit victim of the global economic crisis. The Distinguished American economist Paul Krugman famously said that “Latvia is the next Argentina”, meaning, in his opinion, the inevitable default of the small Baltic state,” he says.

Dombrovskis points out that now after three years, Latvia’s economy is back on track and in better shape than many other European Union countries.

Credit ratings of many European countries are downgraded and more countries need financial assistance, while Latvia’s accomplishments in restoring financial stability are praised, he says.

“Currently, Latvia is one of the most rapidly growing economies in the EU. In 2011 GDP grew by more than 5 per cent. Production has already reached the pre-crisis level, while exports exceed it. Gradually development can be felt in a real income growth of the population. Unemployment is decreasing gradually; more than 56,000 employees found jobs last year.”

According to Latvia PM, the main task is to ensure constant growth of Latvia’s competitiveness.

“The business environment has to be improved and the productivity of labour must continue to grow along with the added value they produce. Resources of the EU funds should be used effectively, not only to rehabilitate the infrastructure but also to support business activities. Positive indications have been observed already – Latvia has become the Baltic leader in the World Bank’s Doing Business index by scoring 21st place in 2011.”

Dombrovskis stresses that adoption of the euro in 2014 remains one of Latvia’s strategic goals.

“This choice is obvious since the Latvian lats is already pegged to the euro and we have all the disadvantages of the euro without any of the advantages. We have carefully studied the experience of our neighbour and the newest member of the eurozone, Estonia, and it is clear that the introduction of the euro has served as a positive stimulus for the economy, fortifying the confidence of markets and motivating investors to create more new jobs,” he says.

Ref: 105.105.105.1309


Leave a reply

  1. Tom says:

    Yeap, go for it and look forward to the future like Greece, spain and portugal! Total tosser, what right does he have, the people of Latvia don’t want it.

    Thumb up 0 Thumb down 0

  2. the truth says:

    lies,lies,lies…………..not a single Latvian citizen wants this……….

    Thumb up 0 Thumb down 0

  3. one voice says:

    Valdis Dombrovskis you are a total pompous prick! you dont speak for anyone in latvia apart from yourself. We dont want the Euro and we don’t want you in government. Its about time the people of Latvia stood up for themselves and put a stop to this ever happening.

    Thumb up 0 Thumb down 0

  4. Andis says:

    Oh my this PM lives in gaga land.

    Thumb up 0 Thumb down 0

  5. Dragor says:

    Hey PM have you read this ; Mind you I doubt if you can even read!

    The eurozone debt crisis could lead to the break-up of the single currency and trigger a slump to rival the Great Depression, a leading global watchdog said yesterday.

    In its flagship World Economic Outlook report, the International Monetary Fund warned that the collapse of the euro could not be ruled out if a country quits the stricken currency.

    It was the first time the Washington-based institution has accepted the prospect of the euro breaking up and came amid mounting fears over the health of Spain

    Thumb up 0 Thumb down 0

    • hm says:

      ull see that them news not gonna show up in Latvia media at all …or they will,just in completely different context………

      Thumb up 0 Thumb down 0

  6. Davis says:

    Latvian lats is already pegged to the euro. how does Latvia separate the lats from euro? My best interest the lats should stand alone maybe a referendum ?

    Thumb up 0 Thumb down 0

  7. Erik says:

    The only things politics do not tell you is Latvia will join the euro after a severe devaluation .One lat for one euro is the most likely.

    Thumb up 0 Thumb down 0

  8. jj says:

    What extraordinarily stupid comments!

    The people of Latvia do want the Euro.
    The people of Latvia did vote for Dombrovskis.
    Joining the Euro will not mean devaluation.

    What long-term future does Latvia have outside the Euro? None.

    Thumb up 0 Thumb down 0

    • rod says:

      Oh jj stupid are we…? I think not. The people of Latvia did not vote for Dombrovskis all elections here are fixed, You obviously are another twit that works in government!!

      Thumb up 0 Thumb down 0

  9. Sole says:

    Hey Valdis Dombrovskis reading these comments looks like you have “1” supporter in Latvia! well done….hope you did not cheat!

    Thumb up 0 Thumb down 0

  10. Tasmin says:

    Latvia, Russian style democracy, a fraud. Join the CIS.

    Thumb up 0 Thumb down 0

  11. ??? says:

    everything what is not Dambrovskis or EU in Latvia-is presented as Russian conspiracy and all bad is Russian fault ………. WTF?

    Thumb up 0 Thumb down 0

  12. the truth says:

    u see our PM is organizing nonsense referendums ,2 take all the attention away from real stuff that matters-like joining eurozone and change Latvian money currency 2 euros,fiskal treaty………..he is keepin Latvian people pretty much in the dark about all that,no1 knows here in LV what is fiskal treaty,what future gonna bring us joining eurozone and losing our money currency……can some1 help us and save us from this madman from pushing us deeper Into this EU ‘abyss…….cause in Latvian media he is only advertising all these-EU rivers of honey and EU paradise…but when u read all these foringer news about real situation in EU its pretty much clear that he is all the time lying 2 Latvian people…………

    Thumb up 0 Thumb down 0

  13. lelde says:

    i think most comments here are left by utter prats who dont follow any political and economical news.

    Thumb up 0 Thumb down 0

  14. Tom says:

    I think, if we didn’t follow political and economic views, one would not comment on them…don’t you agree. The views are strong that people make, I’m afraid their views fall on deaf ears!

    Thumb up 0 Thumb down 0

  15. jj says:

    Lelde really is correct.

    If the majority of people in Latvia really do agree with most of the other views written on here, then Latvia is finished and it will end up being back as part of Russia.

    Thumb up 0 Thumb down 0

  16. hey jj says:

    …….why it has 2 be EU or Russia ????????????????? Why it cant be just only LATVIA?????????????????????????

    Thumb up 0 Thumb down 0

Terrorists in Barcelona were planning three explosions

Terrorists, who performed two attacks in Catalonia last week, were initially planning to blow up three shuttle buses in crowded areas in Barcelona, as reported by El Espano.

Lawyer: Maxima wants to earn by reducing compensations for the tragedy

Maxima Latvija and Zolitude 21.11 have reached an agreement on payment of EUR 900,000 to support victims of Zolitude tragedy – EUR 5,000 to EUR 75,000 to each person, as reported by Maxima Latvija.

Producer prices in industry in Latvia grew 0.4% in July

Compared to June, the level of producer prices in Latvian industry rose by 0.4 % in July 2017. The prices of products sold on the domestic market increased by 0.5 %, whereas the prices of exported products grew by 0.3 %.

Enefit: Latvia reduces electricity price difference with neighbouring countries

In recent years, Latvia has managed to reduce the electricity price difference with other Baltic neighbouring countries, as reported by Enefit Chairman Janis Bethers.

Farmers Saeima: butter price will not remain high for long

The high price on butter in Latvia will not remain so high for long, said Farmers Saeima Vice-Chairperson Maira Dzelzkaleja-Burmistre in an interview to 900 seconds programme of LNT.

Aseradens elected as chairman of Unity; Krisjanis Karins to lead party’s city council faction

Unity elected Economy Minister Arvils Aseradens as the new chairman of the party. MEP Krisjanis Karins has been elected as the party’s leader in Riga City Council with Santa Zarane as his deputy.

LPS manager: forming the budget, it is important for municipal funding to stay the same

In the formation process of the next year’s state budget, it is necessary to guarantee finances do not reduce for municipalities, said the chairman of Latvian Association of Local and Regional Governments Gints Kaminskis in an interview to Latvijas Radio.

Police to organize inspections in stores; parents asked to watch their children as well

For the new school year, Riga Municipal Police will be performing regular inspections at stores, bars and cafes from 21 August to 31 August, as well as the first days of September, to make sure minors are not sold alcohol and tobacco products, BNN was told by police.

Colder masses of air to enter Latvia this week; more rain expected

This week’s weather in Latvia will be dictated by a cyclone hovering above Northern Europe. Colder masses of air will flow into the country. A lot of rain is expected in Latvia this week, as reported by State Environment, Geology and Meteorology Centre.

Kirsis asks police to assess possible forging of votes at Riga City Council

Riga City Council’s Unity faction chairman Vilnis Kirsis has asked State Police to check if the city council’s electronic voting system was used without another deputy’s knowledge or consent, said the politician.

Expert: attack in Spain shows how terrorists switched to more easily reachable targets

Terrorist attacks that transpired in Spain this week shows how terrorists have switched to more easily reachable targets, where security requirements are not as strict, says Latvian National Defence Academy’s Security and Strategic Research Centre researcher Martins Hirss.

New mandatory tests in schools to be introduced four years from now

In four years’ time – 2021/2022 school year – it is planned to introduce completely new mandatory tests in schools, as reported by State Education Content Centre Director Guntars Catlaks.

Nearly 9,000 children and their parents got homes thanks to state support programme

In the first half-year of 2017, state support helped 1,527 families in Latvia to buy homes. Compared with last year, families’ demand for state support has grown 6%, as reported by Altum finance institute.

Prediction: Aseradens will likely take control over Unity

Economy Minister Arvils Aseradens will become the head of Unity, Betsafe bookmakers predict. The possibility of Aseradens becoming the head of the party is given 45% probability by Betsafe.

Provisional estimate for next year’s fiscal space in Latvia is EUR 60 million

Next year’s fiscal space has been estimated at EUR 60 million, as noted by Finance Minister Dana Reizniece-Ozola, adding that a more precise estimate will be available at the end of August.

Reconstruction of Vilnius airport runway concludes; aircraft return to Vilnius

On Thursday, 17 August, Vilnius airport’s runway was festively opened. This was the most massive reconstruction for the airport in the past 20 years. It was a unique project for Lithuania and all of Europe, airport representatives say.

Islamic State terrorist group takes responsibility for Barcelona attack

The recent terrorist attack in Barcelona, in which a shuttle bus rammed a crowd of people on La Rambla, killing 13 and injuring at least 100, has become this week’s topic.

Weather in Latvia to be warm but rainy on weekends

The sun will appear every now and then between clouds on Friday, 18 August. Still, some rain is expected, especially in the afternoon in Latvia’s eastern regions, where thunderstorms may appear. Rain is expected to reach the capital in the afternoon. Wind will draw in from the south. Air temperature will reach +21° C… +26° C, according to State Environment, Geology and Meteorology Centre.

Latvia’s export growth was moderately rapid in the first six months of 2017

Compared with the same period of 2016, Latvia experienced a moderately rapid export growth in the first six months of 2017, according to data published by Eurostat on Thursday, 17 August.

Latvia’s annual inflation in July was one of the highest in Europe

Inflation indexes in Latvia and the UK both reached 2.6% in July, which is one of the highest indexes in the European Union, according to data published by Eurostat on Thursday, 17 August.

Kirsis withdraws his candidacy in favour of Aseradens

Riga City Council member Vilnis Kirsis has decided to withdraw his candidacy from the race to become chairman of Unity in favour of a different candidate – Economy Minister Arvils Aseradens.

Rinkevics expresses Latvia’s interest in maintaining political consultations with Palestine

On Thursday, 17 August, Latvia’s Foreign Affairs Minister Edgars Rinkevics met with the leader of Palestine’s diplomatic mission in Latvia, ambassador Taissir Al Adjouri, to discuss mutual relations between Latvia and Palestine and the peace process in the Middle East.

Putin grins to the world’s seven billionth baby, Lithuania wary of border incidents

Russian President Vladimir Putin paid a visit this Wednesday to Kaliningrad, the westernmost point of Russia, but the reports about his trip in the Russian enclave and over the border in Lithuania were strikingly different.

Survey: red considered the safest colour for a car

Most Latvian drivers consider red to be the safest colour for a car. The most popular, however, is black, according to results of a survey by Virši-A fuel trader.

airBaltic’s number of carried passengers reaches a record in second consecutive month

Latvian airBaltic airline carried 393,312 passengers in July 2017, which is 21% more than the same period last year. The number of passengers carried by airBaltic remains the highest it has ever been in the airline’s history, BNN was informed by the company.