Financial news

Billion euro more can be necessary for Latvia

06 апреля 2009 г.

Riga, on April, 6th. To already available international credit in 7,5 billion the euro of Latvia can be demanded one more. It recognised the head of sector of the financial market at Management on a competition of Eurocommission Tatyana Vere, informs telegraf.lv.

She warns: the longer the government begins to tighten work on budgetary amendments, the above there will be a price for economic rescue of the country. According to Vere even if only from January till May the state will live on the old sample of the budget (and the government of Latvia is going to do it at least till July), almost all expenses should be cut down further on 50 %. But also these of a victim do not guarantee result.

«I do not think that the IMF would agree to lend simply money only because it was required to the government of Latvia more means, and it would be reflected in increase in a budgeted deficit to 7 % from gross national product. The IMF warned Latvia about approach of problems, since 2005, and it is simple to present, as it is not enough at them remains now patience», — Vere has told.

As she said, the previous government of Latvia in a reality has made nothing for achievement of concrete changes, it has not developed the amendment to the budget and has not fulfilled other own promises. «To give to Latvia now it is more than money — all the same what to give money person with alcoholic dependence, perfectly understanding that it there and then will spend them for vodka. If George Bush said that Uoll-strit suffers from a hang-over after a rough party Latvia in this respect has much more big problems — we are dependent on alcohol and we require urgent serious treatment», — it has explained.

She considers that the position of creditors can be understood easily. «Why the IMF should give to Latvia the financial help if thus, for example, only the Ministry of Defence last year has spent for 4 million advertising?» — has declared Vere.
 

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