Speaking after another virtual online cabinet meeting, Kariņš said "The road so far has not been easy," but that so far Latvia had managed the crisis well.
"On May 7 all regulations will be reviewed," he said, while promising that all necessary measures would remain in place for as long as required, based upon the asessment of epidemiologists.
"We will not endanger people's lives," he pledged, as "it seems this disease will not be disappearing any time soon."
Health Minister Ilze Viņķele commended the public for its "disciplined" attitude during the crisis and said that the precise form of the "new normal" in which people will have to live will become clearer in coming weeks.
The government will use a so-called "4x4 method" to guide its decisions over a 4-week period based on four factors: the epidemiological situation, the workload of the health care system, the situation in other countries and, issues of public safety, public mood and control over public events.
The current state of emergency is due to expire on May 12.