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Dombrovskis Says Latvia Won’t Need Additional Budget Cuts in

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Jan. 4 (Bloomberg) -- Latvia won’t require additional budget cuts this year, Prime Minister Valdis Dombrovskis said in an interview with Latvijas Radio 1.

The budget plan, with a deficit of 2.5 percent of gross domestic product, is based on “realistic forecasts,” he said.

The prime minister’s reaction follows a comment by central bank Governor Ilmars Rimsevics in an interview with Lietiska Diena today that Latvia may need additional fiscal consolidation this year of as much as 100 million lati ($185.4 million) to achieve its deficit target.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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