Analytics, Budget, Latvia

International Internet Magazine. Baltic States news & analytics Tuesday, 09.06.2026, 06:31

Einars Repse: state budget deficits will have to be limited also in the coming years

Irina Alenina, BC, Riga, 27.04.2009.Print version
The Finance Minister Einars Repse (New Era) said, summing up the conclusions from his visit to the United States: the Government of Latvia has to introduce the thought-over structural reforms that would ensure the restricting of the budget deficit not only in this year, but also in the years to come and would serve as the ground for receiving the further installments from the international donors, writes LETA.

Einars Repse

As LETA learned from the Ministry of Finances, the annual World Bank Group and the International Monetary Fund (IMF) spring meeting in Washington concluded yesterday. Also a Latvian delegation was among the meeting participants.

 

At the meeting, Repse explained to IMF the Latvian Government's outlook on the process of drawing up state budget amendments and the structural reforms plan.

 

After the official meeting, the Minister for Finances pointed out that the Latvian government should continue work on thought-over and sustainable reforms in the sector of state administration. "We have to be determined in our striving to cut down on excessive spending. The right way how to achieve it, is to introduce reforms in the public sector administration, which will allow us to join the European monetary union in 2012," Repse said.

 

As reported, Latvia is continuing negotiations with the international lenders, trying to achieve an agreement that would allow passing state budget amendments that foresee a deficit equal to 7% of the gross domestic product.





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