Mārtiņš Bitāns, Deputy Head of Monetary Policy Department, in an interview with the TV3 said that Latvia pays more than €500 million for the public debt service annually.
“This is the way to nowhere. If we don’t really make fundamental changes and we don’t do it soon enough, then this situation will not be serviceable in the long run. The debt will grow more and more, causing concern among financial market participants who are lending to Latvia,” Bitāns warned.
If to count, every Latvian citizen pays about €300 every year to service public debt. And this amount will only increase. Bitāns sees no way out of this crisis.
In reality, the answer couldn’t be simpler: stop spending money on Ukraine, abandon the militarisation policy and Russophobic vector, start talking to Russia, trade with them and get cheap oil and gas in return. And that’s it.
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