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Sunday 18.08.2019 | Name days: Liene, Helēna, Elena, Ellena, Liena
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Finance Ministry expects credit rating upgrade

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Finance Minister Andris Vilks

There is no better example than Latvia to show that a state can, indeed, tackle major issues. There are only a few countries that can be trusted. I believe investors will appreciate stability of the Baltic region, says Andris Vilks, Finance Minister.

According to him, Latvian credit rating will be raised in near future, because the outcome of the Saeima elections suggests that the state will go on with what has been started, Vilks told LNT broadcast 900 sekundes, when asked for his conclusions from the visit to the U.S.

During the official visit, Vilks met with investors as well as representatives of the major banks and international credit agencies.

Asked how exactly the state and its residents would feel the credit rating upgrade, he stresses that new jobs would appear at a fast pace and remuneration would increase as rapidly. “This will be seen the best in manufacturing, export and logistics.”

“It is clear that money is looking for a place to land. Investors and banks are really willing to invest. They have a lot of money, but there are very little investment safe areas. We have to make use of this. The global crisis was our big chance,” Vilks says, adding that even if a crisis strikes the eurozone, it will still be possible for Latvia to develop.

Speaking of the next year’s budget, he points out that it will be coordinated with lenders. “We are set to meet with the International Monetary Fund officers and the budget project will be handed to the Saeima Speaker on December 6.”

The necessary consolidation totals about a hundred million lats. According to Vilks, this is the last year of it and the programme must definitely round up.

Vilks reveals that he would gladly take the post once again also in the new government if it would be led by Valdis Dombrovskis, “I would unlikely be able to work under the charge of another prime minister. I can hardly see any good candidates. This is not the right moment for experiments,” he says.

Asked what could be the best possible coalition – with Harmony Center (HC) or All for Latvia!-TB/LNNK, he points out that HC’s economic policy is quite unclear and full of populism in terms of the euro and the loan. Not to mention their aspiration towards the East. According to Vilks, if VL-TB/LNNL took part in the coalition, it would be easier to go on with what has already been started.


Leave a reply to Kevrell

  1. Hope says:

    If only his forecasts could come true! Finally something good is said also about Latvia. It really proved that it was successful during the severe crisis. But what is absolutely important is that it sticks to its current prime minister Dombrovskis, who is a really clever man. he is the only one with numerous degrees as well. Not that it is the only thing that matters, but he seems to be really intelligent.

  2. Gunta says:

    Next budget consolidation will be Latvia doom How is it possible to invest in this country whit a sutch widspread corruption and a sutch shadow economy.It makes no sense unless one has money to waste So better invest in Somalia or Zimbawe It would be less risky

  3. Agatha says:

    I see, I supopse that would have to be the case.

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