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International Internet Magazine. Baltic States news & analytics Friday, 10.07.2020, 20:32

Coalition in Latvia earmarks EUR 2 bn for overcoming Covid-19 crisis

BC, Riga, 01.06.2020.Print version
In the next couple of years EUR 2 billion will be made available for dealing with the Covid-19 crisis and fueling the economic recovery, Prime Minister of Latvia Krisjanis Karins (New Unity) told journalists following the weekly coalition meeting today., informs LETA.

The prime minister said that today coalition partners had exciting and heated discussions which resulted in an agreement on a strategic investment which will be made in the next comings years to cope with the Covid-19 crisis and promote the economic recovery. 


The coalition agreed to invest the EUR 2 billion in the economy over the next two years. "While last week we took a decision on how to invest the money, now there is an agreement specifically by categories. The money will be distributed in three equal parts for benefits, infrastructure and modernization. I think we will be able to provide clarity on how the crisis will be overcome," Karins said. 


The prime minister said that around EUR 660 million will be available to projects in each of the three categories, including an estimated EUR 32 million for culture and EUR 42 million for science.  The sum total also includes funding for tourism support and other needs. 


"The great political debate that has been going on for several weeks behind the scenes has successfully concluded. The solution is good for the state and the economy," the prime minister said. 






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