Budget, Financial Services, Latvia
International Internet Magazine. Baltic States news & analyticsTuesday, 09.02.2010, 15:28
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.
- 09.02.2010 Latvia’s GDP growth comprised 2.4% in Q4 compared to Q3
- 09.02.2010 Foreign trade of Latvia decreased by 31.4% in 2009
- 09.02.2010 Прирост ВВП Латвии в IV квартале составил 2,4%
- 09.02.2010 В Латвии впервые исследована социальная роль русского бизнеса
- 09.02.2010 Rigas satiksme введет новые билеты и предложит дополнительные скидки
- 09.02.2010 Нарва просит у государства 66 млн. крон
- 09.02.2010 Riga International Airport capacity to be expanded to 12.7 mln passengers a year
- 09.02.2010 Заплатив налог, должностные лица в Латвии на служебном автомобиле смогут ездить только на работу и обратно
- 09.02.2010 Estonia's euro adoption moves raise concern in Latvia
- 09.02.2010 Пропускная мощность Рижского аэропорта увеличится до 12,7 млн. пассажиров в год
Recovery lessons to choose: for beginners and prospective business 
