RIGA - Latvian officials have announced that the new target date for euro adoption will be set to Jan. 1, 2014.
"The government has passed decisive decision for Latvia’s national economy and euro adoption would bring at least doubled benefit for the country, enterprises and inhabitants. The experience of Latvia and other countries has proved that aligning fiscal policy establishes confidence in the country, diminishes business costs and improves the business environment. Secondly, euro adoption would provide more stability to the country, improve business conditions and maximise investment opportunities," Bank of Latvia spokesperson Mārtiņš Grāvītis said.
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