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Tuesday 17.07.2018 | Name days: Aleksejs, Aleksis
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Experts: government has completed 66.6% of its promises

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When analysing twelve industries that improve Latvia’s long-term growth and everything that has been done since pre-election promises, experts of the Economists Union 2010 state the government’s work is partially complete. The average completion score, according to experts, is 66%.

Latvia’s main challenge in this election cycle is the ability to motivate people to knowingly link their lives and the lives of their children with Latvia, believes Martins Bondars. The group of experts – Olga Ertuganova and Edmunds Krastins (macroeconomics), Juris Cebulis (microeconomics), Filips Rajevskis (social development) and Lauris Liepa (legal issues) analysed using their methodology that promises made before elections are being executed – work is either being done partially in different fields or is not being done at all.

In the time while the world is ruled by financial and economic instability, Latvia’s stable government serves to prevent negative effects of global events and risks. Traditionally, the first year of every government is a time for coordinating large and important questions within the coalition. This is why this factor should be taken into account in the first year. Pre-election headlights will slow decision making in the future years, state the authors.

Questions that were important in the end of 2011, ones the government was supposed to find answers are related to unemployment reduction, reduction of population and long-term financial policy. Medium-term challenges that required the government’s attention were related to Euro introduction in 2014, state medium-term debt refinancing and securing predictable business environment.

Experts positively evaluate the government’s initiatives and actions in securing Maastricht criteria. Euro adoption is a priority for this government. The following of the Maastricht criteria helps Latvia ensure the required macroeconomic indexes – low inflation, manageable state debt, fiscal discipline with attempts to balance its budget.

At the same time, a responsible macroeconomic policy and Euro adoption are not the deciding factors in people’s wishes to live in Latvia, because they do not directly affect the reduction of unemployment and the recovery of the business environment, education improvement, effective and fair court system, and other no less important factors of quality state management, says Filips Rajevskis.

The lack of general priorities (except Euro adoption) prevents or reduces the possibility of setting and reaching ambitious goals, because serious priorities can mostly be solved by two or more ministries working together, this requires the support of Saeima’s majority and public trust. We need to understand that people’s desire to live and work in Latvia is affected by social processes, functions of other independent institutions and success, as well as the actions of Latvian residents, experts say.

“This period is short enough to fully evaluate the influence of the decisions on the state, and people in general. However, decisions made in this time frame also serve as beacons for the government’s ability to fully comprehend Latvia’s situation, as well as that of Europe and the world. This is why the assessment of the year, no matter which part of it is looked at, can serve, mainly, as an indicator for future events,” – believes Bondars.

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