Governor Kazāks supported President Levits’ view that the new government should come up with a strategy for better national energy policy and appoint officials responsible for relevant policies. Energy will be a crucial factor for Latvia’s growth and business competitiveness in the coming years. ‘Responsibility for energy policy is fragmented in Latvia, we lack common approach to how Latvia should deal with this challenge in the long run,’ Egils Levits said. There is also lack of common approach to labour policy, Governor Kazāks added.
President of Latvia and Governor of the Bank of Latvia discussed how Latvian financial institutions are coping with debt acquired during 2008 financial crisis. Consumers who are not able to pay back loans from 2008 crisis, in the remaining 2 months of the 2022, can ask lenders to cancel their loans. Several thousands have already applied for the loan cancellation and more than 100 million euros have been written off, allowing debtors go back into legal economy.
