On Wednesday, March 31, Prime Minister Valdis Dombrovskis held a meeting with representatives of the Special Committee on the Financial, Economic and Social Crisis of the European Parliament with a view to inform about activities of the Government and the results in stabilizing the socio-economic situation in Latvia.
The Prime Minister informed about the fiscal consolidation achieved in the budget amendments 2009 and the 2010 budget in the amount of almost LVL 1 billion, thereby fulfilling the commitments to reduce the fiscal deficit in 2010 to the level of 8.5%. In order to reduce the budget spending, fundamental structural reforms have been carried out in sectors of public administration, education and health care. V.Dombrovskis emphasized the importance of promoting the economic growth. The Government has stimulated the economic development through shifting the funding of the European Union structural funds to business sector, ensuring export guarantees for export-oriented businesses, elaboration and introduction of the micro-enterprise support program and diminishing the administrative burden for commercial activities. In order to ensure social stability in the country, the Government is implementing the social network strategy proving the support to low income people in the area of welfare, education and health care.
Pervenche Berès, a representative of the Special Committee on the Financial, Economic and Social Crisis of the European Parliament (CRIS) informed that the purpose of the committee’s visit is to assess the scope of the financial, economic and social crisis in the EU member states and to make proposals which in long-term would restore stable functioning of the financial market, promote sustainable growth, social cohesion and employment. The CRIS’s representative noted that the global economic crisis and economy overheating have been the most substantial causes for crisis in Latvia.
P. Berès stressed that Latvia should continue the implementation of the measures with a view to balance the economic situation, ensure growth and social stability. The export-oriented entrepreneurship should be promoted which is a challenge for every EU member state. At the same time, it is important to reduce the unemployment and emigration of the working population abroad in order to ensure social stability.
During the meeting also the issues regarding Latvia’s compliance to the Maastricht criteria, the plans to become the eurozone member state in 2014, as well as the state support for borrowers’ protection and involvement of social partners in implementation of structural reforms were discussed.
The photos of the meeting of the Prime Minister and representatives of the Special Committee on the Financial, Economic and Social Crisis of the European Parliament are available in the Internet photo album of the State Chancellery: http://www.flickr.com/photos/valstskanceleja/4478628880/in/set-72157623615270281/
Information prepared by:
Laine Kučinska
Deputy Head
Communication Department
State Chancellery
Phone: 67082905 / 29457329
E-mail: Laine.Kucinska@mk.gov.lv
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