Analytics, Economics, EU – Baltic States, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 05:56

Reirs stresses Latvia's growth pace in Brussels

BC, Riga, 07.11.2014.Print version
During his first working visit to Brussels, the new Finance Minister Janis Reirs (Unity) said in a Eurogroup meeting yesterday that despite slower economic development, Latvia's growth is still above the average in the European Union (EU). Moreover, the driving force behind Latvia's economy is private consumption as a result of improvements on the labor market, the Finance Ministry informed LETA.

Reirs said that the new Latvian government will continue implementing well-thought-out fiscal policy.

 

"I want to confirm that Latvia's new government will continue pursuing well-thought-out economic, financial, and fiscal policy. Europe's experience shows that maintaining fiscal stability is the best choice of policy in order to create such macroeconomic environment that facilitates investments and growth. In other words – we must make sure that we spend no more than we earn," Reirs indicated.

 

In conclusion he said that he expects close cooperation and support from the Eurogroup and ECOFIN, especially in the first half of 2015, when Latvia will be the presiding country over the EU.

 

Today, Reirs participates in the ECOFIN meeting.

 

As reported, Eurozone finance ministers met in Brussels yesterday, whereas EU finance ministers have a meeting today to discuss financial transaction tax, standard VAT return, EU statistics, etc.





← Back↑ Up

Русский
Search site