Latvia is seeking to limit its budget deficit to 2.5 percent of the gross domestic product in 2012, which will require between 150 million Latvian lats ($303 million) and 180 million Latvian lats in net additional measures, according to the International Monetary Fund.

“This will demonstrate their [Latvian authorities] commitment to fiscal discipline and debt sustainability, and to meeting the general government deficit criterion for euro adoption on a sustainable basis,” the fund said in a statement.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.