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Latvian report Latvian report
by Euro Reporter
2012-04-21 10:21:46
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Commissioner discusses fisheries issues in Latvia

EU Fisheries Commissioner, Maria Damanaki, met with ministers in Latvia to discuss the Common Fisheries Policy and the European Maritime and Fisheries Fund. Maria Damanaki visited Latvia, where she met Mr Valdis Dombrovskis, Prime Minister of Latvia, and Ms Laimdota Straujuma, Minister of Agriculture, in Riga. Discussions focussed on the on-going reform of the Common Fisheries Policy and the proposed new European Maritime and Fisheries Fund.

The new fisheries policy will aim at preserving fish stocks at sustainable levels for the benefit of current and future generations by managing fisheries in a responsible, science-based way. Regionalisation of the policy making is an important aspect of the reform and Commissioner Damanaki put emphasis on finding solutions for the Baltic Sea during her visit. The Integrated Maritime Policy and its "blue growth" strategy in support of maritime sectors were also discussed. Commissioner Damanaki met fisheries and maritime stakeholders and visited a fish-processing company.

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2011 deficit narrows by more than half to 3.5% of GDP


Latvia’s budget deficit narrowed by more than half last year on the government’s spending cuts and tax increases. The shortfall shrank to 3.5 percent of economic output from 8.2 percent in 2010, the Riga-based central statistics office said in a statement today, citing figures adjusted for European Union methodology. The general government deficit fell to 494.1 million lati ($927 million) last year from about 1 billion lati in 2010.

The Baltic country’s economy expanded 5.5 percent last year, bolstered by growth in exports and industrial production, after shrinking almost a quarter in 2008 and 2009. Latvia completed a 7.5 billion-euro ($9.8 billion) bailout from a group led by the International Monetary Fund and European Union, after passing tax increases and spending cuts of almost 18 percent of gross domestic product since the end of 2008.  The Finance Ministry expects the economy to expand about 2 percent this year with a budget deficit of 2.5 percent of GDP so it can meet criteria to adopt the euro in 2014.

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President Berzins Earned $679,000 last year


Latvian President Andris Berzins reported 360,758 lati ($679,000) in income last year, including interest income and profit on bond and real estate transactions, Leta reported today, citing an official declaration.

Berzins received about 25,000 lati in salary and got 55,000 lati in pension payments for previous work at a state bank, Leta reported. Income from selling bonds was 310,789 Euros ($409,000) and he increased the number of properties he owns to 40 from 37, the Riga-based newswire reported. The average gross wage in Latvia in 2011 was 464 lati a month, the central statistics office said March 2.



      
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