Latvia must preserve its business environment as much as possible during this crisis - Reirs

  • 2020-03-17
  • LETA/TBT Staff

RIGA - Latvia must preserve its business environment as much as possible during this crisis, Finance Minister Janis Reirs (New Unity) told Latvian Television this morning.

He pointed out that Latvia's economy is currently being slowed down by an external situation, so the state is ready to invest as much as necessary in preserving the country's business environment.

"We are ready to invest as much as we need, regardless of regulations, fiscal discipline or other legislation. It is very important to keep the state and business functioning until the crisis is over so that we can restore the economy as quickly as possible," Reirs emphasized.

He also pointed out that according to expert estimates the crisis will be a short-term one, therefore Latvia should preserve the business environment as much as possible. "Latvia needs to preserve its business environment as much as possible so that the economy can recover as soon as possible after the crisis, and also so that people retain their jobs and continue earning a living," the minister said.

At the same time, Reirs acknowledged that those operating micro-businesses are having considerable problems in this situation, reaffirming the need for regulatory change.