Budget, Financial Services, Latvia
International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:40
Latvia’s ex-President: further budget cuts are "shocking"
Print version![]() |
|---|
| Vaira Vike-Freiberga. |
In Vike-Freiberga's view, further budget cuts will only encourage economic downturn, increase unemployment and, as a result, increase the burden on the state budget. "We are in a downward spiral," Vike-Freiberga said.
She underlined that Latvia lacks exports support programs and incentives for warming up the economy, reports LETA.
"The government has no choice in the sense that we were wasteful and now we are insolvent," the ex-president said.
In Vike-Freiberga's opinion, it is important not to sell off the valuable assets of the state due to the crisis. For example, selling municipal properties now, when the prices are low, would be very risky.
As reported, Prime Minister Valdis Dombrovskis (New Era) announced on Monday that next year's state budget expenditure would have to be cut by another LVL 55 to LVL 60 million.
- 02.09.2010 Рижский порт принял участие на Международной Пекинской выставке транспорта и логистики
- 02.09.2010 Exports of Latvian agricultural and food products on rise in H1
- 02.09.2010 Ansip: no plans to raise taxes in 2011
- 02.09.2010 В Литве заработал новый механизм налога страхования здоровья
- 02.09.2010 Ансип: в Эстонии давно не наблюдалось такого обильного поступления налогов в бюджет
- 02.09.2010 Новый закон в Литве гарантирует анонимность сообщающим о коррупции
- 02.09.2010 В I полугодии в Латвии заметно вырос экспорт продовольственной и сельскохозяйственной продукции
- 02.09.2010 Skele: digital television criminal case in Latvia is too politicized
- 02.09.2010 Port of Riga took part in the Transport and Logistics Exposition in Beijing
- 02.09.2010 Multilateral Carbon Credit Fund signs first projects in Baltics to purchase carbon credits in Estonia and Lithuania






Updating the Nordic-Baltic cooperation 

