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Wednesday, 15.10.2025, 21:26
Pavluts: Liepajas metalurgs troubles could leave impact on national budget
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Pavluts said that he did not wish to comment further on this matter, as this is for the finance minister, but did admit that increases in budget spending could influence the progress of future projects.
The economy minister pointed out that the state does not have to back loans for private companies, and when the decision was made to guarantee the loan to Liepajas metalurgs, more should have been done to monitor the company's daily activities.
As reported, Bank of Latvia President Ilmars Rimsevics said previously that if Liepajas metalurgs is shut down, Latvia's economic growth will be reduced 0.6-0.7% this year.
At the beginning of the year, the Bank of Latvia predicted 3.6% GDP growth in 2013. The central bank will release its next forecast on Latvia's economic growth in July.
As indicated by first-quarter data, Latvia's economic growth stalled slightly in the first three months of 2013.
According to the Central Statistical Bureau's flash estimate, Latvia's GDP grew 3.1% in the first quarter of 2013.
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