Recommendation for a Council Cecision abrogating Decision 2009/591/EC on the existence of an excessive deficit in Latvia

By Council Decision 2009/591/EC of 7 July 2009, following a recommendation from the Commission, it was decided that an excessive deficit existed in Latvia. The Council noted that the general government deficit reached 4% of GDP in 2008, above the 3% of GDP Treaty reference value, while the general government gross debt stood at 19.5% of GDP in 2008, well below the 60% of GDP Treaty reference value.

On 7 July 2009, in accordance with Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, the Council, based on a recommendation from the Commission, addressed a recommendation to Latvia with a view to bringing the excessive deficit situation to an end by 2012 at the latest.

In the view of the Council, the excessive deficit in Latvia has been corrected and Decision 2009/591/EC should therefore be abrogated.

EUR-Lex: COM(2013)386: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:386:FIN

ESO: Background information: Commission takes steps under the Excessive Deficit Procedure http://www.europeansources.info/record/memo-commission-takes-steps-under-the-excessive-deficit-procedure/

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