Brussels, 27 November 2009
Statement by Commissioner Almunia after the transmission of the government amendments to the 2010 budget law
"I welcome the agreement reached by the Latvian government as regards the amendments to the 2010 budget law and look forward to a positive Saeima vote on the proposed budget on 1 December. The draft 2010 budget fulfils the objective of ensuring a fiscal consolidation of 500 m LVL through reforms of the public sector and in the economy at large.
The action taken by the government is a key step in the direction of strengthening international confidence in the ability of Latvian authorities to deal with the challenges brought by economic crisis and to implement the measures agreed with international partners within the Program.
Adoption by Parliament of the revised draft 2010 budget would represent a favourable development in meeting the agreed conditions under the Balance of Payments financial support programme."
A joint review mission of international donors led by the European Commission and the IMF will start next week to assess the implementation of Program conditions.