The Baltic Course

International Internet Magazine. Baltic States news & analyticsFriday, 03.07.2009, 05:12

EC recommends Latvia curb budget deficit to 3% of GDP by 2012 and supports allocation of second part of loan

02.07.2009.

European Commission (EC) today, on July 2. recommended that the Council set the year 2012 as the deadline for Latvia to reduce its budget deficit below 3% of gross domestic product, according to an announcement, made by the EC. Separately, the EC also decided to release the EUR 1.2 billion (LVL 0.84 billion) second installment of the European Union (EU) loan to Latvia to support the economy stabilization program.

Keyword tags: Budget, EU – Baltic States, Financial Services, Latvia, Legislation, Loan


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