Press release
04 June 2009
Ministry of Finance
Minister for Finance Anders Borg comments on the situation in Latvia
Minister for Finance Anders Borg made the following comments in connection with the situation in Latvia:
- The situation in Latvia is a cause for concern, with production falling and unemployment rising. The Latvian Government has begun work on restoring long-term sustainable public finances. Budget reinforcements have put difficult strains on the Latvian people. The deficit in the public finances has, however, increased and the original goals no longer appear attainable, says Minister for Finance Anders Borg.
- It is the Latvian Government that is responsible for the direction of budget policy and the choice of exchange rate regime. I take note that the authorities want to control government debt and maintain their exchange rate peg. It is urgent to underline the importance of continuing to manage the deficit in the public finances. The supplementary budget presented this week is a step in the right direction in continuing the budget consolidation. We welcome the Latvian Governmen´s ambition to introduce additional measures in the near future, says Minister for Finance Anders Borg.
Contact
Anna Charlotta JohanssonPress Secretary
+46 8 405 10 00
Björn Wretfeldt
Press Secretary to Anders Borg
