Budget, Economics, Financial Services, Latvia, Legislation

He believes that if there is a need for extra funds, there is the option to use emergency funds from the state budget, as well as savings from external debt service payments.

Vilks was unable to say how much money could be allotted to companies hit by Russia's food embargo, as only four companies have requested tax holidays from the State Revenue Service so far. He believes that dairy and vegetable producers ought to receive compensation payments from the European Union, and that farmers and the Agriculture Ministry should convince Brussels that the situation in countries that border with Russia is a lot different than in the rest of Europe.

Vilks mentioned defense and healthcare field as the next year's budget priorities, adding that the healthcare field is a "mess" and is still at the same development level as in the 1990s.

He repeatedly reminded that it is impossible to run the country using the "fat years" mentality. There should be a pragmatic and balanced approach to the state budget, as the economic growth is reducing. The Finance Ministry expects a 2.5 – 2.8% growth for this and next year (previously – 4%).