No new taxes, no new spending, promises Latvian Finance Minister

Work is still underway on next year's budget, but there are no plans to raise taxes next year, Kučinskis said.

"I don't see the need to talk about tax increases and other radical decisions next year," Kučinskis said. "As finance minister, I can say that I will not raise VAT and [personal] income tax."

The next budget will be one of austerity and control, and additional funds will only be available by "streamlining" spending, the minister said.

"We are very happy wit...