Karins and Kazaks discuss Latvia's plan under EU Recovery and Resilience Facility

RIGA - Prime Minister Krisjanis Karins (New Unity) and the Bank of Latvia Governor Martins Kazaks are of the same opinion that Latvia's plan under the European Union's Recovery and Resilience Facility (RRF) needs to be improved.

During a remote meeting today, Karins and Kazaks discussed Latvia's RRF plan and ways to make it better.

Karins told Kazaks that, taking into account the European Commission's opinion and the National Industrial Policy Guidelines of Latvia, Latvia's RFF plan would be improved to pursue smart reindustrialization - to support exports and improving Latvia's export capacity.

The improved plan will then be discussed with the government's social and cooperation partners, as well as the general public, said Karins.

Kazaks expressed support for Karins' intention to improve the plan, also emphasizing that investments meant to mitigate the impact of the Covid-19 crisis should be used for resolving structural problems in the economy, as well as foster development of new technologies in Latvia.

Karins and Kazaks also discussed the latest developments concerning the Covid-19 pandemic, agreeing that mass vaccination and achieving herd immunity was the only way for Latvia to overcome the Covid-19 crisis.