On April 15, the Cabinet of Ministers approved at its extraordinary meeting the eighth Progress Report on the implementation of the Latvian National Reform Program, which is prepared every year and submitted to the European Commission. The Progress Report reflects government policy for meeting the objectives of the European Union Council recommendations and the Europe 2020 strategy.
“It is pleasing that Latvia’s progress towards meeting the EU Council recommendations and the Europe 2020 strategy objective has improved. This has been also recognised by the European Commission in its last Report on Latvia of 2018. I am glad that the work of the new government has ensured both stability and success in the implementation of structural policies and reforms. However, we still face a challenge in increasing investment in research and development, as well as ensuring a more rapid increase in the productivity of Latvian national economy,” emphasises Ralfs Nemiro, the Minister of Economics.
The Progress Report contains an updated medium-term macroeconomic scenario, described in the National Reform Programme of Latvia (approved by the Cabinet of Ministers on 26 April 2011), evaluates the progress of Latvia in addressing the recommendations issued by the EU Council in 2018, gives a detailed description of policy directions, including national quantitative targets of Latvia in the context of the Europe 2020 strategy, reflects information on the investments of EU funds and Latvia’s investment needs in the 2021-2027.
In 2018, Latvia received three recommendations from the EU Council – national budget and tax policy, social safety net, vocational education, health care, and the public sector.
In line with the Treaty on the Functioning of the European Union, the Progress Report together with the Latvian Stability Program form an integral part of the EU-level economic policies coordination and monitoring instrument (under the so-called European Semester). Both documents must be submitted to the European Commission by 15 April. Every year, the European Commission evaluates the two documents, and on this basis makes proposals on the EU Council recommendations which shall respectively be endorsed by the European Council.