Budget, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 17.01.2026, 01:37

Repse hopes 2011 budget will be last with severe cuts in spending

Nina Kolyako, BC, Riga, 29.10.2010.Print version
Finance Minister Einars Repse (New Era), following a meeting today with President Valdis Zatlers on the course of drawing up the 2011 national budget, said that it may be the last one with mandatory cuts; future deficit consolidation will be guaranteed at the expense of growing revenue.

Einars Repse and Valdis Zatlers. Riga, 29.10.2010.

According to Repse, next year's budget could be the final one with tough decisions. Further consolidation measures will already be easier because most of the problems have been solved.

 

The minister was unable to say specifically how large the budget's consolidation volume will be, pointing out that this is still to be discussed with the international lenders and that the signed agreements must be taken into account, adding that consolidation has been set at LVL 395-440 million. If drastic proposals are prepared now, "it will be easier for us later," he pointed out.

 

There is a good foundation to believe that the situation will be more positive, and "certainly it won't get worse," he claimed.

 

Repse also informed that his ministry has prepared numerous proposals for the new government that exceed the necessary consolidation volume.





← Back↑ Up

Русский
Search site