Finance and economy ministers will discuss possibilities to support entrepreneurs due to rising prices of energy resources

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Finance Minister Janis Reirs Photograph: Zane Biter / LETA

On Monday, Finance Minister Jānis Reirs (JV) and Economy Minister Ilze Indriksone (NA) will discuss the possibilities of providing support to entrepreneurs due to the increase in the prices of energy resources.

In an interview with Latvian Television’s “Morning Panorama” program, Reirs said that he will also discuss the financial impact of the possible support with the Minister of Economy.

The Minister noted that the experience of providing support to residents due to the rise in the prices of energy sources last winter allows us to hope that the support to residents will be sufficient in the upcoming heating season, but there are some other support options. should be discussed, including helping entrepreneurs.

It was previously reported that the amendments to the law on measures to reduce the extraordinary increase in energy resource prices have entered into force and that these amendments envisage a series of measures to partially compensate for the increase in heat supply and heating costs for households.

The law has been amended to reduce the negative socio-economic impact of the unprecedented rapid increase in the prices of energy resources on the income of the population.

The total amount of support for the measures included in the support package will be around 442.25 million euros.

Reirs assessed that as Latvia maintains good credit ratings, the country still has good opportunities to borrow.

According to Reira, “the budget is being fulfilled”, moreover, not only because of inflation, but also in other positions. The politician said that we will not keep this money, which will theoretically be a mechanism in the fight against inflation, but we will return it to the citizen.

The minister stressed that the government does not see the reduction of consumption and value added taxes as an option to combat price increases, because, according to theory, such measures have a stimulating effect on consumption and hence inflation.

Reirs, on the other hand, added that the government, together with the social partners, is considering opportunities to lower labor taxes, which could be a program for the next few years.

Source: Tv Net

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