President Bērziņš: Latvia's debt too big for current growth

Take note – story published 8 years ago

Latvia's debt is so big that we might not have the ability to pay it, said President Andris Bērziņš to Latvian Television on the morning of his last day of presidency.

Bērziņš said that the debt - about 3,500 euro for every single inhabitant - is too big. "That's why we should look for ways to encourage people to take the initiative," said Bērziņš.

He stressed that the danger of incurring huge debts is very grave for smaller countries. "There is no way of repaying them. When taxes are raised and pressure from the state is increased, the most active individuals who want to achieve more leave the country," said Bērziņš.

Bērziņš also said that it isn't necessarily bad that people leave Latvia if they return. "If we want to integrate fully within the world, we have to see it, especially during the time we are studying," said Bērziņš. He stressed that those were repatriates who helped build Latvia during its crucial periods.

When asked how he felt on his last day as President, Bērziņš replied, "Good. We have gone a long way together with our team, and the progress we've made is obvious."

Tomorrow Raimonds Vējonis will take the presidential seat, becoming the first 'green' president in the EU. 

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