“Latvia must think about all aspects of the crisis – both the strengthening of the healthcare system and social support, and economic recovery and growth. The main thing in this process is purposeful and smart investments that are transparent, show solidarity and support the outlook for the Latvian economy,” Levits told the economic conclave.
On April 30, President Egils Levits organized a virtual discussion with economists and economic experts to discuss the strategic recovery of the Latvian economy after the COVID-19 crisis, the Presidential Chancellery said May 1.
Topics such as overcoming the economic crisis, social security measures, economic recovery and growth were discussed.
The participants of the discussion also discussed how the economic slowdown in the European Union and in the world will affect Latvia in the medium term, particularly with regard to services and industry, exports and the state budget. The direction in which the state’s investment program could “heat up” the Latvian economy was also discussed.
The virtual discussion was all-male, attended by Minister of Economics Jānis Vitenbergs, Governor of the Bank of Latvia Mārtiņš Kazāks, Chief Economist of Luminor bank Pēteris Strautiņš, Chief Economist of the World Bank Kārlis Šmits, President of the Latvian Electrical and Electronics Industry Association Normunds Bergs and senior official of the European Investment Bank (and former Finance Minister) Baltic Office Andris Vilks.