The Ministry of Finance is not considering a tax increase scenario, said Finance Minister Arvils Asheraden's on the Latvian Radio program "At the Intersection."
The minister emphasized that currently the level of Latvia's public debt is moderate, and there is still a reserve before reaching the Maastricht criterion of 60% of gross domestic product.
Asheraden's also noted that the European Commission approved Latvia's budget project for the next three years, with Latvia being among 12 European Union countries whose budgets were approved without significant remarks.
Currently, the Ministry of Finance is working on a four-year budget project, and the main task is to ensure economic growth so that additional borrowing is not necessary.
Asheraden's stressed that the scenario of increasing taxes is not being considered at this time, but rather ways to improve the efficiency of public sector spending are being discussed.
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