Levits in conversation with finance minister urges investment in higher education, science and innovation

RIGA - Support to higher education, science and innovation is vital for the transformation of the national economy and will determine the success of Latvia's overall development, President Egils Levits said during a meeting with Finance Minister Arvils Aseradens (New Unity) on Thursday. 

Elina Kresa, a representative of the president's press office, told LETA that Levits met with Aseradens in Riga Castle on Thursday to discuss the drafting and adoption of Latvia's 2023 budget, current macroeconomic topics and matters concerning the European Union's financial sector.

The finance minister informed the president on the budget adoption process, which takes place in complicated times, considering ongoing fight against high inflation and a looming brief recession. 

In their conversation, Levits and Aseradens stressed Latvian authorities' work on strengthening national defense and internal security - the two areas which are expected to receive additional funding in the national budget. The officials agreed that in the current geopolitical situation investments in these areas, including civil protection, is vital. 

The president praised a ministerial committee the financial minister has set up to focus on work with the absorption of EU funding in Latvia. Levits underlined that it is essential to use all available resources to improve the situation in various spheres. "It would be impermissible to not seize all these opportunities," the president said.