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Saturday 24.08.2019 | Name days: Boļeslavs, Bērtulis
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Dombrovskis: investments in airBaltic must not hit 2012 budget

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Valdis Dombrovskis

If the state has to invest in the national airline airBaltic, we will consult the Finance Ministry. Any way, it should be done this year not to hit the next year’s budget and consolidation, says Prime Minister Valdis Dombrovskis.

The government has considered the Transport Ministry and its consultant Prudentia’s report on the situation in airBaltic given Latvijas Krajbanka problems. They proposed various solutions that I cannot yet publicly comment on, he told LNT broadcast 900 sekundes.

Dombrovskis stresses that the state has regained its rights as the majority shareholder and has ensured itself against a situation with the private shareholder not meeting its liabilities.

When we speak of introducing a specific scenario, we will consult the Finance Ministry. In case of necessity, funds should be placed in airBaltic already this year in order it would not have any impact on the next year’s budget and consolidation, according to Dombrovskis.

“We must ensure successful operations of airBaltic, because it is estimated that invetsments in the airline have smaller negative impact on the economy that investments in it,” he says.

Asked about the future activities in terms of Krajbanka, Dombrovskis says that the Finance and Capital Market Commission (FCMC) is about to file for the bank’s insolvency. Many technical issues will also be solved. The govenrment has allocated LVL 200 million to the Guaranteed Deposits Fund in order to ensure that all the funds are reimbursed.

Speaking about municipalities that lost their funds in Krajbanka, Dombrovskis points out that the government has granted short-term loans, but each and every case must be viewed separately.

“The FCMC keeps working and there are no signals of problems that banks could be having in relation to Krajbanka. The case must be viewed systematically to see what could be worked on in general – in the legislation and the FCMC supervision,” Dombrovskis adds.

When asked how soon a new head of the FCMC could be found, the Prime Minister points out that the choice of the next director is the task of the Finance Minister and President of the Bank of Latvia. “Their Saeima wil have to approve the candidacy they will have chosen. The next head of the financial watchdog must be specialist in the field,” according to Dombrovskis.

Ref: 102.105.105.402


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  1. Adreas says:

    Do not believe that guy he is lying as usual .It is up to the international lenders to make a decision about an additional budget cut

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