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Monday 16.07.2018 | Name days: Hermīne, Estere
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Endzins: we may face a serious crisis in 2021

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIf Latvia does not restructure its existing national economy model, a serious crisis may strike the country after the end of the EU structure fund programme in 2021, said head of Latvian Chamber for Commerce and Industry Janis Endzins in an interview to Rīta panorama programme on Friday, 7 October.

«There will be almost no EU funds available for us in 2021. We have no idea how we’re supposed to live in 2021. One thing is certain: if we do not restructure our national economic model before 2021, there will be a serious crisis at the beginning of 2021,» – Edzins said.

When asked if he sees any desire and commitment coming from politicians to make the necessary steps, Endzins said: «Latvia has to be able to stand up to the challenge in two cases: if there is a major crisis and if we decide to join in on something. […] I would very much like to ask that we do not sit and wait for the crisis, but rather get a hold of ourselves and prepare. The Prime Minister [Maris Kucinskis] is full of commitment and understands this situation well. I would like to believe he will fulfil his promises.»

The head of LCCI also praised the prime minister for very constructive cooperation: «Cooperation with the prime minister is currently the best it has ever been with LCCI. This is good. We had very hard talks in August. On 9 August, we signed an agreement on future goals and changes in four areas. One are is common goals. The second is tax policy. We agreed that a new tax policy strategy needs to be developed by 1 April 2017. We also wrote down the main principles to ensure economic breakthrough detailed in the National Development Plan. As we know, numbers paint a different picture. We actively work on multiple recommendations. I hope there is still time left for us to finish. If we successfully develop a more competitive national economy and tax policy aimed to enhance growth, there will be something to preserve in the end. The tax consultant says the following about Latvia: yes, this is how thing are now, what happens tomorrow – God only known.»

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