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International Internet Magazine. Baltic States news & analytics Friday, 23.08.2019, 23:13

Swedish Finance Minister: Latvia must deliver 2010 cuts, patience limited

Nina Kolyako, BC, Riga/Istambul, 05.10.2009.Print version
Latvia must deliver on its commitment to slash 2010 spending by LVL 500 million, Swedish Finance Minister Anders Borg said on Sunday, noting international patience with Latvia was limited.

Anders Borg.

"They made a very strong political commitment to perform a very responsible fiscal policy," Borg told reporters on the sidelines of the annual meeting of the International Monetary Fund in Istanbul. "They must deliver responsible fiscal policy in the budget for 2010. The international community's patience with the Latvians is limited, so they must behave very, very responsibly," he said.


Sweden currently holds the rotating EU presidency, informs Reuters/LETA.


As reported, several agreements were made between coalitions parties during an emergency government meeting on Saturday, which means that technical work on the preparation of next year's budget project will begin.


According to Prime Minister Valdis Dombrovskis (New Era), next year's budget expenditure will be reduced by LVL 225 million, whilst another LVL 100 million will be gained in revenue by tax policy changes.

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