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Wednesday 13.11.2019 | Name days: Jevgēņija, Jevgēņijs, Eižens
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Prime Minister: 2011 consolidation may hit all sectors, including taxes

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Prime Minister Valdis Dombrovskis

It is possible to cut 50 million lats as a result of discussions. This will also be the subject of negotiations between the international lenders and the Latvian government until the next review mission, the Prime Minister Valdis Dombrovskis indicates to LNT broadcast 900 sekundes.

He points out the lenders’ decision on additional consolidation was influenced by discussions and disputes regarding various budgetary measures, for instance, the redirection of 2nd Tier pension scheme contributions. However, despite this, the government has received a letter from the European Commission, suggesting during the crisis period the reduction of pension level is reasonable. Moreover, this will bring additional 45 million lats in the social budget, the Prime Minister notes.

Dombrovskis recognizes consolidation might affect practically all areas; also revenue measures cannot be excluded. Currently, the Ministry of Finance is preparing proposals to be included on the government’s agenda in early 2011.

Considering the previously announced statements on the possibility of obtaining additional financing by changing the real estate tax, the Prime Minister emphasizes this will be more topical in 2012, when the cadastral values are specified and new real estate policy created. Dombrovskis also points out local governments might be granted greater powers on this matter.

Currently, the Prime Minister neither draws «red lines», nor reveals which sectors will not face consolidation, because the government wishes to allow the Ministry of Finance to prepare the possible options and evaluate them during discussions.


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  1. Ren says:

    Really, seems that next year some really austere consolidation measures will be introduced.

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