The President of the Bank of Latvia, Martins Kazaks, believes that in the current geopolitical situation, the country cannot delay the formation of a new coalition and government. In his opinion, political forces need to agree as quickly as possible and define several key areas of work.
As Kazaks stated to the LETA agency, one of the most important tasks in the economy should be the development of export-oriented production with high added value. Without this, he said, it will be difficult to accelerate economic growth from the current 2–3% to at least 5–6% per year.
The head of the Bank of Latvia emphasized that the foundation of Latvia's economic growth remains the competitiveness of exports.
Another important direction will be the effective attraction and use of funds from the next multiannual budget of the European Union. According to Kazaks, these investments should contribute to increasing the productivity of the economy.
"For Latvia to be strong and secure, we need a strong and secure Europe," Kazaks emphasized. He called for looking beyond national borders and actively participating in shaping common European policy.
As reported, in the elections to the Saeima held on Saturday, according to preliminary data after counting most of the votes, the "United List," representing the newly appointed Prime Minister Andris Kulbergs, is in the lead. The second place is taken by "Latvia First," followed by the coalition "Sovereign Power/Young Latvians United."
According to preliminary results, the National Alliance, "Progressives," and "New Unity" may also enter the 15th Saeima.
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