The Eurogroup welcomes Latvia's submission of an updated draft budgetary plan (DBP) for 2019, as requested in its statement of 3 December 2018, as well as the Commission opinion issued on 6 March 2019.
We agree with the Commission opinion that the draft budget of Latvia is broadly compliant with the requirements of the preventive arm of the Stability and Growth Pact (SGP). The Eurogroup invites Latvia to ensure compliance with SGP provisions within the national budgetary processes and welcomes its commitment to take any necessary measures.
We note that Luxembourg submitted its updated DBP on 5 March and we look forward to the Commission assessment.
We will continue to monitor euro area member states' fiscal and economic policies, as well as the budgetary situation of the euro area as a whole.