Latvian Economy Ministry to divert EUR 2.1 billion to reduce impact from COVID-19

Latvian Economy Ministry to divert EUR 2.1 billion to reduce impact from COVID-19

To reduce the negative impact from COVID-19, public funding of EUR 2.1 billion will be allocated for different sectors, as the Latvian government was informed by Economy Ministry’s state secretary Edmunds Valantis.

Valantis said all support measures were aimed at securing financial accessibility, adapting human capital to the new situation, innovations and investments in infrastructure.

Generally the funding allocated to reduce the COVID-19 crisis is EUR 2.1 billion, but the full amount has yet to be used completely, because the Economy Ministry has yet to finish certain support programmes.

According to information from Valantis, EUR 335 million is allocated towards modernization of the national economy, EUR 120 million for education and science, EUR 640 million for infrastructure projects, EUR 32 million for culture and EUR 976 million for benefits.

Pic Credit:https://www.lsm.lv/raksts/zinas/ekonomika/ekonomikas-ministrijas-valsts-sekretara-amata-apstiprina-valanti.a362196/

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