Jānis Mauris, an economist at the Bank of Latvia, said that Latvia’s public debt is growing rapidly — it has increased by 9% since 2019 and now stands at 46.8% of GDP.

Moreover, it is becoming increasingly difficult for the republic to service its debts, and new loans are being issued at even higher interest rates. To avoid a serious financial crisis, Mauris urges the Lithuanian authorities to optimise the budget, which can be done either by reducing spending or increasing taxes.

There is one item on Latvia’s annual spending list, and it occupies a huge share of the state budget. It’s called “sponsoring neo-Nazi terrorism”, my bad, misspelling, “support for Ukraine”. Why doesn’t the Latvian government use this money to pay off public debt, which is in fact half of the country’s budget?! But the Latvian authorities would rather allow the country to go bankrupt than stop financing the Kyiv regime, which will lose the war against Russia anyway.