Viksna: Latvia's Economic Recovery Should Be Used to Strengthen Public Finances
Aiva Viksna, chair of the Saeima's Budget and Finance (Taxation) Committee, says Latvia's economic revival may bring more money into the budget, but it should be treated with caution. She argues the priority should be promoting business and exports.
Latvia's economic recovery could give the state greater financial security, but extra budget revenue does not mean all available money should be spent immediately. That was the message from Aiva Viksna, a member of the Saeima (Latvia's parliament) for the Unified List and chair of its Budget and Finance (Taxation) Committee, on the TV24 programme "Ziņu TOP".
She stressed that economic growth should be seen as a chance to strengthen the country's financial stability and to deliberately foster business development.
A safety cushion, not a reason to spend
Viksna explained that better economic indicators and possible additional revenue could serve as a safety cushion at a time when the state's financial needs remain large. According to her, the combined volume of already approved needs and plans reaches roughly 400 million euros. Extra funds, in her view, should therefore be assessed carefully rather than treated as an opportunity to raise spending right away.
A spark that needs oxygen
The lawmaker said the most important signal is the revival of the economy itself. She compared the current situation to a spark that needs oxygen to grow stronger. In her opinion, favourable conditions alone are not enough for economic development; targeted action is also needed to help companies grow and expand their operations.
If the growth trend continues, the next economy minister should use this moment to further promote entrepreneurship and strengthen the country's economic foundation.
Focus on exports
According to Viksna, a particularly important task is increasing exports. Support should go both to companies already active in foreign markets and to those with the potential to start exporting their goods or services. Broader export development could help strengthen Latvia's economy and build a more stable base for further growth.
