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International Internet Magazine. Baltic States news & analytics Monday, 25.01.2021, 07:03

EcoMin: Latvia must prepare for economic jump-start following Covid-19 crisis

BC, Riga, 25.11.2020.Print version
Latvia must be prepared for an economic jump-start following the Covid-19 crisis, Saeima Education, Culture and Science Committee Chairman and former Economics Minister Arvils Aseradens (New Unity) said while presenting the 2020 Latvian Productivity Report on Wednesday, cites LETA.

According to Aseradens, the government has to accumulate all the resources available for an economic jump-start after the crisis is over, which, judging from the development of vaccines, will happen at the beginning of next year.

At the same time, Latvia's gross domestic product per capital is still lower than the European Union's average, which is a clear signal to the Latvian economic and political elite that they must consider ways to change the situation in the country, said Aseradens.

Gundars Berzins, head of the University of Latvia's Business, Management and Economics Department, explained that the Latvian Productivity Report was an independent and scientific expert opinion on productivity factors that offer policymakers tools to promote economic competitiveness and growth. The document has been prepared in accordance with the European Union standards.

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