Support, infrastructure, modernization in focus as Latvia battles against pandemic: PM

0 Comment(s)Print E-mail Xinhua, May 14, 2020
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RIGA, May 14 (Xinhua) -- Latvian Prime Minister Krisjanis Karins said on Wednesday that his government has resolved to focus on three main areas -- support, infrastructure and modernization -- in the nation's battle against the ongoing COVID-19 crisis.

As for support, the government is working on life-long learning and re-training programs for those who loss their jobs in the pandemic, he said.

On infrastructure, Karins said that his cabinet has already approved a 75-million-euro (81 million U.S. dollars) allocation for road construction and maintenance this year, a measure intended to help fuel economic activity in the Baltic country.

The government is also looking at modernization measures that would help restructure the economy, which includes support for scientific research, the prime minister told reporters following a meeting with Governor Martins Kazaks of the Bank of Latvia.

Kazaks said that the government has chosen a right approach to tackling the economic crisis brought about by the coronavirus.

He stressed four main principles that the government should adhere to when working on economic support measures -- consistent and phased decisions, adequate distribution of risks between the public and private sector, common good, and sustainable spending.

The governor also said that the financial resources Latvia has at its disposal to support the economy are sufficient but not perpetual. Enditem

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