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Sunday 20.08.2017 | Name days: Bernhards, Boriss
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Minister: a country is not led by party ratings

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Daniels Pavluts (L) and Valdis Dombrovskis

State and economic development, as well as competitiveness improvement all require careful, coordinated and through execution of reforms, Economy Minister Daniels Pavluts said.

Without it, economic development and the National Development Plan’s provided economic leap is not possible, said the politician. He also believes that the achievement of this goal will be made more complicated if Latvia remains ensnared by political variables and mutual conflicts between the coalition and the opposition. In the next decade, Latvia will require governments that would be able to realize both the industrial policy and the National Development Plan accordingly. “A country, especially the economy, cannot be managed by party ratings alone,” – Pavluts noted.

It should be added that Prime Minister Valdis Dombrovskis also presented the last year’s report on the work done in the energy industry.

The government has done much last year. But it still needs to work on the reduction of poverty and inequality, as well as on creating new jobs, regional development, state administration and economic management, said the Prime Minister.

Dombrovskis also said that the government also worked on making sure residents “feel the overcoming of the crisis as soon as possible in their wallets”. Some of this is being done through tax mechanisms, reducing the VAT and PIT. The increase of benefits for dependents also plays an important role this, according to the PM.

The last year has been especially intensive, Dombrovskis said. According to him, this was the second consecutive year of economic growth, with Latvia’s economy being among the most rapidly growing in the EU.

“The government was involved in regional development, reaching especial results in terms of Latgale’s development. Work was continued in the development of politically active link to social and cooperation partners. Reforms in management and dialogue formation with social partners in terms of the trilateral cooperation council were also continued,” – he reported. The PM’s report included information about the general economic situation, EU budget results, as well as other topics.

When reporting this year’s important objectives, the PM reported that the government’s priorities in the economy include the creation of new jobs, improvement of the business environment, and attraction of investments. The government will also be working on improvements for capital associations, education reforms and the tax system.

In his report, the PM also presented information about the long-term EU budget. Dombrovskis noted that, even though the EU budget has been reduced for the first time, Latvia has managed to secure good conditions in all important areas of negotiations.

Ref: 102.109.109.6729


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  1. O. says:

    “Some of this is being done through tax mechanisms, reducing the VAT and PIT.”
    I agree.. I suggest to aim for 15% VAT and 19% PIT by 2018. This will eliminate much of the black economy.

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