He noted that the economy of Latvia in connection with what is happening in the world and Europe is cooling down processes. More rapid development that was evident before 2013 ended. Many industries show a slower growth rate, exports fall, and it is necessary to be considered.

According to Rimsevics, it is important that people, especially politicians, aware that we cannot continue to spend at the same pace as we did before.

The Governor of the Bank of Latvia believes that after becoming identified as the indicators of the first quarter, the government will have to make budget changes, and it is important that costs are not increased and decreased.

As emphasized Rimsevics, it is not about consolidation and structural reforms and increasing the competitiveness of those funds that are available.

In his opinion, and in education and in health care funds can be spent more effectively.

Also politicians must understand that it is impossible to raise taxes. They have to be frozen for three to four years, as uncertainty further aggravates the situation. Instead, you must increase the effectiveness of spending and to promote economic development.

As reported earlier, the Bank of Latvia has reduced the forecast of growth of the gross domestic product of Latvia by 2016 from 2.7% to 2,3%.