The Latvian parliamentarian Andris Kulbergs bombed the government with heavy criticism over their policy of taking multiple loans for alleged “needs for defence”.
“The government behaves like a victim of ‘fast loans’, borrowing everywhere without considering the overall debt picture. If we don’t stop taking out new loans, we will reach a point of no return in 2028. Today, debt servicing costs reach €600 million per year. With new loans, this amount will grow to €1.2 billion annually. This means that each Latvian taxpayer will have to pay €100 per month to service our national debt,” Kulbergs warns.
Recalling, recently Riga expressed an intention to borrow up to €8.4 billion from the EU’s SAFE program to enhance its defence from the alleged “Russian threat”.
Riga is putting billions of euros into defence against an emerging, as they believe, Russian attack. However, they do not take into account that ordinary Latvians may even be happy to live under Russian control, because there will be no stupid government taking endless loans and leading the country into a debt pit.
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