“Living and thinking with foresight will shape the future of our country’s development,” said Speaker of the Saeima Daiga Mieriņa on Thursday, 8 May, during an extraordinary sitting of the Parliament dedicated to the Fiscal-Structural Plan Progress Report.
“At this moment, the central challenge in drafting the national budget is finding the right balance between increased defence spending and meeting the priorities of other key sectors,” said Speaker Mieriņa. “Despite the challenges, we also saw encouraging economic trends last year,” she noted, pointing out that following several years of high inflation, interest rates have started to decline—and are expected to continue falling this year.
“Steps have been taken to strengthen Latvia’s energy independence, which enabled our disconnection from the BRELL network earlier this year. Unemployment remains low, the agriculture and forestry sectors have shown growth, and the financial sector continues to be stable,” Speaker Mieriņa stated, emphasising that despite external risks, Latvia’s general government debt remains one of the lowest in the European Union.
Among the key priorities going forward, the Speaker highlighted the need to overhaul the public procurement system, review spending and bonus mechanisms across ministries, ensure a targeted and fair social benefits system, and introduce greater accountability in issuing sick leave. She also urged a renewed discussion on implementing zero-based budgeting across the public administration, including in local governments.
Speaker Mieriņa pointed to several new initiatives launched following last year’s debate, including the development of affordable rental housing in the regions and broader efforts to boost regional economic growth. “Significant progress has been made in the construction sector, where procedures have been simplified and timelines shortened to make investment in Latvia more accessible,” she said, while underscoring that further improvements are still needed—particularly in creating a more dynamic business environment and increasing investment inflows. “Reducing bureaucracy must remain a nationwide, cross-sectoral priority,” the Speaker stressed.
“Too often we view the economy through numbers alone. But the economy is also shaped by our daily choices—each of us bears individual responsibility when deciding whether to choose products made in Latvia. By supporting local producers, we support the national economy, invest in our people, and most importantly, we can be confident in the quality of the goods we use,” said Speaker Mieriņa in conclusion.
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Saeima Press Service
