1 Latvian Prime Minister Krisjanis Karins said on Wednesday that his government has resolved to focus on three main areas — support, infrastructure and modernization — in the nation’s battle against the ongoing COVID-19 crisis.
2 As for support, the government is working on life-long learning and re-training programs for those who loss their jobs in the pandemic, he said.
3 On infrastructure, Karins said that his cabinet has already approved a 75-million-euro (81 million U.S. dollars) allocation for road construction and maintenance this year, a measure intended to help fuel economic activity in the Baltic country.
4 The government is also looking at modernization measures that would help restructure the economy, which includes support for scientific research, the prime minister told reporters following a meeting with Governor Martins Kazaks of the Bank of Latvia.
6 He stressed four main principles that the government should adhere to when working on economic support measures — consistent and phased decisions, adequate distribution of risks between the public and private sector, common good, and sustainable spending.
7 The governor also said that the financial resources Latvia has at its disposal to support the economy are sufficient but not perpetual.