On Thursday, the 13th of July, Latvia’s President Edgars Rinkēvičs met with the governor of the Bank of Latvia Mārtiņš Kazāks to discuss topics related to the banking and financial sector. The discussion focused the most on the situation in lending, as reported by the State President’s Chancellery.
Officials also discussed the latest macroeconomic outlooks and future cooperation between Latvia’s president and the Bank of Latvia.
The meeting also addressed the situation in lending – high lending costs weaken Latvian commercial banks’ interest in providing lending services and contributing to the development of Latvia’s national economy and competitiveness.
Latvia’s president said he expects a radical change of direction
from Latvian commercial banks, including more active involvement from the Bank of Latvia and the government in improving accessibility of financial services.
Kazāks informed the president of the latest macroeconomic outlooks. According to the provided information, inflation in Latvia has started going down, and it is expected this trend will continue. At the same time, inflation indexes in Europe remain above optimal level.
Also read: Average consumer price level up by 7.9% in Latvia in June