While the measures I have mentioned are not achieved easily, given that Japan’s economy continues to be stagnant for such a protracted period and is burdened by a serious challenge of further aging of the population in the future, there is no time to lose.
Inflation has declined to a level consistently below 3%, there has been considerable growth in exports, especially to the EU countries, and it has contributed to the strong GDP growth over the last years. The achieved macroeconomic stability allows us to set the target of fulfilling the nominal convergence criteria at the time of Latvia’s accession to the EU.