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Vilks indicates government’s top priorities

  • 2012-09-27

RIGA - Latvian government has three priorities - reducing taxes, solving demographic problems and bringing order to road infrastructure, Finance Minister Andris Vilks stressed in an interview with the LNT television this morning.

Almost 37 million lats (52.6 million euros) will be allotted from the 2013 state budget for tackling demographic problems in Latvia, and this amount will increase to 67 million lats in three years. Vilks believes that clear-cut long-term goals must be introduced for solving demographic problems, similar to the government's long-term tax reduction objectives. As reported, the government has decided that personal income tax rate will be reduced from 25 percent to 24 percent on January 1 next year, and to 20 percent by 2015.

The crisis has taught an important lesson to Latvia at all levels, including in families and local governments. Moderate and stable development is important to Latvia, said Vilks.

The minister believes that Latvia has every opportunity to continue successful development, regardless of turbulence in the eurozone. "We are not expecting anything bad to happen, we know that things will be getting better," he stressed.