Press Release: Statement by Commissioner Almunia on Latvia’s budgetary discussions

Following the presentation by the Latvian government of a supplementary budget for 2009 and a visit by European Commission and International Monetary Fund's teams, European Economic and Monetary Affairs Commissioner Joaquín Almunia believed that the new budgetary proposals were a step in the right direction and also appeared to contain some welcome reforms, but more was needed to contain the increase in the budget deficit.