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Monday 21.08.2017 | Name days: Linda, Janīna
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Dombrovskis: we are more ready for fiscal discipline than other EU countries

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Valdis Dombrovskis

“The new European Union’s fiscal discipline pact will not bring any extra austerity measures.Latvia is already on its way to a balanced budget,” Prime Minister Valdis Dombrovskis said in an interview to LNT broadcast 900 sekundes.

He acknowledges that the pact means that the state will not be able to increase spending as fast as it would like. Neither will it be allowed to cut taxes.

The new treaty is a way to overcome the eurozone crisis and correct errors made by countries that mixed up their income and expenses. There will also be a transitional period. Among all EU member states Latvia is not showing bad performance at all, he says.

Asked whether it could slow down growth, Dombrovskis repeatedly stresses that those who argue that the higher the deficit, the bigger growth are all wrong. “It is a myth. Otherwise Greece would now be prospering,” he adds.

Dombrovskis notes that there is no worry about Latvia’s inability to meet the EU fiscal discipline agreement, as the state began work already much earlier than others.

Assessing the first 100 days of the government’s work, Dombrovskis points out that the main task remains the same – stable economic development. Although the government does not have high ratings, its work must not depend on them. In that case any unpopular but necessary decisions could not be adopted.

Ref: 103.105.105.894


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  1. Enzo says:

    Is there one Latvian to believe the taxes wont go up. Latvia will be an island of prosperity in an ocean of misery. 2012 will be hard for every one.

    Thumb up 0 Thumb down 0

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