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Analysis & opinionJanuary 3 2017

Latvia finance minister looks to emerge from the shadows

Latvian finance minister Dana Reizniece-Ozola outlines to Stefanie Linhardt the government’s plans to tackle the shadow economy and devise a fair and sustainable mid-term tax strategy.
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Q: You have just passed the budget for 2017. What are the main priorities?

A: The strength of Latvia is that we have been able to keep our fiscal stance of following strict austerity measures right after the crisis, and are now keeping a balanced budget with a minor deficit of 1.1% for 2017 and then 1% in 2018 and 0.7% in 2019. The debt amounts to 36% of gross domestic product [GDP], which is one of the lowest in the EU.

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