The parties New Unity, the New Conservatives, Development/For! and the National Alliance signed a memorandum on the objectives of their mutual cooperation.
Prime Minister Krišjānis Kariņš said at a press conference that the agreement focuses on implementation of smart re-industrialization and the strengthening and development of export-capable companies.
"When comparing the economies of Latvia, Lithuania and Estonia, we face structural challenges in our economies. There was a long-term development model based on transit, money transit through our financial system, the transit of raw materials through our ports. This perennial policy has made wealthy individuals but hasn't lifted the common prosperity of our society. We need new, well-paid jobs to build the wellbeing of the whole society in the country. This can be provided by export-enabled companies: the government will focus on the implementation of smart re-industrialization in order to support their development,” Kariņš said.
The five-party coalition was reduced to four parties as KPV LV left the government, as reported earlier by LSM.
The next scheduled parliamentary elections will take place in the Fall of 2022, and the main goal of the new agreement will be to enable the four-party coalition to survive until then,. It will no longer have a technical parliamentary majority and will need to reply on support from at least two or more unaffiliated or opposition Saeima deputies to pass legislation.