PM Kariņš: Next year might not show economic growth in Latvia

Economic growth could not be expected next year and the economic slowdown is expected to last at least half a year, Prime Minister Krišjānis Kariņš (New Unity) said in an interview with Latvian Radio on December 20.

Next year, some sectors active in exports could be very lucky, said Kariņš. But overall, a year of growth isn't expected. “It will be a year of [economic] slowdown up to half a year, until Midsummer, before the economists forecast growth again,” said Karins.

It is important to organize and start using European funds, which Latvia has a large amount of funding to deal with the situation, he said.

“Preparations have been done, but are too slow,” the Prime Minister added, noting that some European fund programs may need to be adjusted.

Kariņš also hopes the government will succeed in shortening the timetable for the state budget for 2023.

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