OREANDA-NEWS. On 13 May 2009 was announced, that Valdis Dombrovskis, Prime Minister of the Republic of Latvia, met Joaquin Almunia, EU Commissioner for Economic and Monetary Affairs.

Mr. Dombrovskis informed that the officials discussed Latvia’s progress in implementing its economy stabilization plan, drafting of the proposed budget amendments and structural reforms. Valdis Dombrovskis recognized the assessment expressed by Joaquin Almunia for the performance of the Latvia’s Government with regard to the budget amendments and structural reforms showing that Latvia is on the right way towards stabilization of the national economy and implementation of a sustainable reform policy.

After the meeting Mr. Almunia emphasized that this was a valuable opportunity to discuss Latvia’s progress in overcoming the current economic crisis. „As we know, at the end of the previous year international bodies and Latvia reached an agreement on international financial assistance and on reforms to be undertaken. The European Commission encourages and supports Latvia in the process of drafting the budget amendments and in undertaking the necessary reforms in accordance with the economy stabilization program. We support Government’s work aimed at stabilizing its finances and implementing reforms in the most essential areas – public administration, health care and education. Public support is of great importance.

Latvia needs to attain the main objective – resumption of economic growth and reduction of unemployment. This is possible provided the necessary reforms are implemented and national finances are balanced. For Latvia to join the euro zone in 2011, it is necessary to amend the budget and to reduce inflation.

The European Commission acknowledges the commitment of Latvia`s Government and is convinced about Government’s capacity to attain the objectives, the Commission also encourages Latvia`s Parliament, political parties and social partners to provide their contribution in this important work in order to regain economic growth, social development and to ensure the pre-conditions for joining the euro zone,” said Joaquin Almunia.