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Ministry of Finance
of the Republic of Latvia
1 Smilsu st., Riga
LV-1919, Latvia

P.: +371-67095405
F.: +371-67095503
E-mail: pasts@fm.gov.lv
info@fm.gov.lv

On July 12, within the framework of the visit by the European Union (EU) Commissioner for Economic and Monetary Affairs Joaquin Almunia to Latvia there was a press conference held with participation of the Commissioner and the Minister of Finance Oskars Spurdziņš.
On Tuesday, 6 March, the Cabinet endorsed a plan of measures aimed at curbing inflation. The plan was developed by a working party led by Oskars Spurdzins, the Finance Minister, and it provides for a range of steps to be taken in many areas of the national economy. To enable the key measures to be carried out immediately, also the necessary amendments to laws and the Cabinet Regulations have been endorsed.
On the 22nd August 2006 The Cabinet of Ministers (CoM) approved the concept "On the Implementation of the Strategic Planning and Medium-Term Budget Planning in the Public Administration". This concept offers possible solutions for improving the medium-term central government budget planning in Latvia - the purpose of the process is to set the available resources for the state within several years, by planning its spending accordingly, to the priorities stipulated by the government.
Fitch Ratings has affirmed Latvia's foreign currency and local currency Issuer Default ratings ("IDRs") at ‘A-' (A minus) and ‘A' respectively. The outlook is stable.
Having acquainted to the information report prepared by the Ministry of Finance the Cabinet of Ministers (CM) today approved the National Euro Changeover Plan for Latvia, stipulating that the Steering Committee for implementation of Euro will continue reporting to the government on the progress of the plan every quarter.
On Thursday, March 9 global credit research company Moody's Investors Service (Moody's) has increased long-term foreign currency credit rating outlook for Latvia from stable to positive. Latvia's credit rating has remained at the previous level: A2.
Monday, February 20, in Jerusalem (Israel) Convention on Prevention of Double Application of Taxes and Tax Evasion as regards profit and capital taxes was signed between the government of the Republic of Latvia and the government of the State of Israel. From the Latvian side the Convention was signed by the Minister of Finances Mr. Oskars Spurdziņš, but from the Israeli side - by the Minister of Foreign Affairs Ms. Tzipi Livni.
At its 3 January 2006 meeting, the Government decided that the name "euro" of the single currency of the European Union (EU) is to be written and pronounced as "eiro" in Latvian, and a political agreement concerning that is required also at the EU level.
Today, 29 September 2005, in Riga, the Vice President of European Investment Bank Mr. Sauli Niinisto and the Minister of Finance - Mr. Oskars Spurdzins has signed a Finance Contract between the Republic of Latvia and European Investment Bank in amount of 150 million EUR.
The official Treasury's report on the central government budget execution for the period of January-May reveals that both the central government budget and local government budget surplus expanded in May; thus, the overall fiscal surplus of the general government budget grew by 54.1 million lats reaching 110.9 millions lats in May. As we know, at the end of April the fiscal surplus of the general government budget amounted to 56.8 million lats.

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CONTACTS

Tālrunis uzziņām: 67095405

Lietvedības tālrunis: 67095578

Fakss: 67095503

E-pasts: info@fm.gov.lv

Adrese: Smilšu iela 1, Rīga, LV-1919, Latvija

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Latvijas Republikas Finanšu Ministrija