Brussels, February 16, 2015 – On Monday, February 16, Finance Minister Janis Reirs led the macro-economic dialogue at political level in Brussels. At the meeting, the Minister noted that the year 2015 was the first year after the crisis when economic growth was forecasted in all European Union (EU) Member States. However, there are still risks that must be eliminated to speed up the growth.
Brussels, February 4, 2015 – On Wednesday, February 4, in Brussels, Finance Minister Janis Reirs addressed participants of “Conference under Article 13 of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union”. The Minister indicated that readiness of European Union (EU) Member States for structural reforms together with other aid tools would form basis for sustainable EU growth.
Riga, February 5, 2015. – On Thursday, February 5, in the University of Latvia an international conference “Challenges for the New Cohesion Policy in 2014-2020: An Academic and Policy Debate” was open. In the next seven years European Union (EU) Member States will hold a great responsibility for the successful contribution of the Cohesion Policy to the economic growth.
Within the framework of Latvian Presidency, on February 4-6, an international conference “Challenges for the New Cohesion Policy in 2014-2020: An Academic and Policy Debate” will take place. Participants of the conference will discuss how the Cohesion Policy facilitates the growth of Europe and employment. This issue is also closely related to the priority of Latvian Presidency – Competitive Europe.
Brussels, January 21, 2015. – On Wednesday, 21 January, Finance minister of Latvia Mr Janis Reirs had a meeting and exchanged opinions with Members of the Economic and Monetary Committee (ECON) of the European Parliament. for the discussion in the meeting focused on the overall economic growth of the European Union (EU) and the necessary implementation of well thought-out economic, financial and fiscal policy, as well as the goal to put into practice the Investment Plan for Europe as soon as possible. As the main directions that will characterize cooperation with ECON Committee Members during the Latvian Presidency the Minister mentioned competitiveness, investment, economic governance, bank union, financial market regulation and tax policy issues.
Brussels, 20 January, 2015. – On Tuesday, 20 January, Latvian Finance Minister Janis Reirs addressed Members of the European Parliament (EP) at the Regional Development Committee (REGI). The Minister emphasised that structural reforms, fiscal responsibility and investment played a significant role in facilitating growth in the European Union (EU), and Cohesion Policy is strengthening these three elements.
Promotion of economic growth is important not only for Latvia, but also for the entire European Union (EU). Therefore, during the next six months or Latvia’s Presidency in the EU Council, the most important priority in the economic and financial sector will be promotion of EU growth. In this regard not only the Juncker Plan, but also readiness of EU Member States for structural reforms is important.
On Monday, December 22, Japanese agency Rating and Investment Information, Inc. (R&I) upgraded Latvia’s credit rating. Country’s Foreign Currency Issuer Rating has been upgraded from BBB to BBB+. The Rating Outlook is Stable. This year, Latvia’s credit rating has already been upgraded by three biggest international rating agencies – Fitch, Standard&Poor’s and Moody’s.
On Wednesday, November 5th, the Saeima has expressed confidence in the newly formed Cabinet and Jānis Reirs assumes office as Minister for Finance, thus replacing the former Minister for Finance Andris Vilks who has held the position of Minister for Finance for the longest period of time.
On Friday, 20 June, the international rating agency Fitch upgraded Latvia’s credit rating. Latvia’s sovereign credit rating for long-term liabilities in the local and foreign currency is upgraded from ‘BBB+’ to ‘A-’ with a stable outlook.
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