Analytics, Economics, Latvia

"The lack of uniformity in Latvia's political system does not encourage adoption of unpopular, but necessary and crucial decisions. The crisis will help to solve this problem," Melngailis said on January 2 in an interview to LETA.

In his opinion, the current situation in Latvia offers Latvians great opportunities to become more united in order to overcome the consequences of the crisis in the fastest possible way.

In 2009, the government of Latvia has to fulfill the International Monetary Fund's requirements regarding reducing costs and ensuring state support for stimulation of economy.

"If the government manages to adopt the necessary decisions fast enough, both regarding costs and investments, then, at the end of the second half of the year 2009, we will be able to observe the first signs of economic recovery," Melngailis said.