“I and Ainars Schlesers were the first to raise the alarm two years ago, when they strengthened the 2023 [valsts] budget, and when the 2024 budget was strengthened. And now this is the result! Still nothing has been done for economic development. I think there will be borrowing, and they will not reduce expenses, but will borrow more,” said the 14th Saeima deputy (LPV) and former prime minister Vilis Kristopans in the TV24 program “Ziņu top”, discussing problems with the state budget and state debt.
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Kristopan stated in the interview that as of March 31 of this year, the national debt amounted to 18.2 billion euros. “Now there is more, because just another 100 million [eiro] borrowed. Well, at the end of the year there will be 20 billion! Calculate when Kariņš came in 2018 [premjera amatā] was about 10 billion, after this election it was like 15 billion, now 18 billion. Then there will be 20 billion, 22 billion and 24 billion [eiro],” Kristopans listed, talking about the potential size of Latvia’s national debt in the coming years.
“In two years there will be 24 billion [eiro] external debt. What will they save? Nothing! They don’t know how,” commented Kristopans on TV24’s “Ziņu top” program. On the other hand, while continuing the conversation about tax collection, both Finland and Estonia were mentioned. “Estonia’s share of revenue is 16.8 billion [eiro]we have 14.5 billion [eiro]. We have two billion more. Estonia will not raise any taxes,” said Kristopan.
Kristopans added that Estonia has two times less “government debt” than Latvia.
“What did the Prime Minister of Estonia say? The interest that we [igauņi] pay, we throw money into the oven… So Latvia throws twice as much money into the oven! 1 million this year [eiro] per day, next year it will be half a billion [eiro] per year – almost another two million per day. Well, that’s how they lived! And now there is a result – at a broken trough. Now it will be very difficult, but as I have always said, this Saeima will not save anything, believe me, nothing! In foreign policy okay – Braze is ideal, but it is foreign policy. The economy is completely different,” commented Krištopans on TV24’s “Ziņu top” program about the problems with Latvia’s state budget, including the ever-increasing amount of state debt.
It has already been announced that Latvia was one of the nine European Union (EU) member states where the general government debt in relation to the gross domestic product (GDP) increased in the fourth quarter of last year compared to the corresponding period a year ago, according to EU statistics released on Monday, April 22 “Eurostat” data, LETA reported.
In Latvia, in the fourth quarter, in annual terms, the government debt increased by 1.8 percentage points.
The general government debt also increased in the fourth quarter compared to the same period a year ago in Finland (+2.3 percentage points), Romania (+1.3 percentage points), Estonia (+1.1 percentage points), Luxembourg and Belgium (+0 in both countries .9 percentage points), Bulgaria (+0.5 percentage points), Poland (+0.4 percentage points) and Lithuania (+0.2 percentage points).
General government debt decreased in 18 EU countries in the third quarter. The biggest decline was registered in Portugal (-13.3 percentage points), Greece (-10.8 percentage points), Cyprus (-8.3 percentage points) and Croatia (-4.8 percentage points).
The average drop in the EU was 1.7 percentage points, while in the Eurozone the decrease was 2.3 percentage points.
You can watch the full video of the TV24 program “Žiņu top” here:
Themes
Tags: Kristopans national debt Latvia throws money oven Estonians
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