Latvia supports France economic reforms

Latvia fully supports reforms proposed French President Francois Hollande and the French government which currently faces temporary difficulties due to various circumstances, Latvian Finance Minister Andris Vilks has said.

"I believe that France is one of the cornerstones of the European Union's economy. Therefore its development is followed closely by everyone. Latvia has also carried out difficult structural reforms to return to economic growth," explains Vilks.

In 2010, France achieved an important improvement in the structural balance of its general government budget, namely - 5.8 percent of gross domestic product. It is expected that the improvement for 2013 will be 2.7 percent of GDP.

"This is a very significant figure, which France has achieved by carrying out reforms over the past few years. It is also an important signal for the entire EU, especially due to the fact that France is one of the countries making up the eurozone's strong nucleus," points out the minister.

Today, Vilks will meet with French Ambassador to Latvia Stephane Visconti to inform about Latvia's accession to the eurozone and discuss the economic and financial situation in Latvia and France.

Latvia highly appreciates its cooperation with France, a strategic partner of Latvia that has supported Latvia on its way to the eurozone, said Vilks.