# Council Decision of 13 July 2009 amending Decision 2009/290/EC of 20 January 2009 providing Community medium-term financial assistance for Latvia (2009/592/EC)

EU Decision 2009/592 · adopted 13 July 2009

Council Decision of 13 July 2009 amending Decision 2009/290/EC of 20 January 2009 providing Community medium-term financial assistance for Latvia (2009/592/EC)

## Introductory text

Council Decision
of 13 July 2009
amending Decision 2009/290/EC of 20 January 2009 providing Community medium-term financial assistance for Latvia
(2009/592/EC)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EC) No 332/2002 of 18 February 2002 establishing a facility providing medium-term financial assistance for Member States balances of payments and in particular Article 5, second subparagraph, in conjunction with Article 8 thereof,
Having regard to the proposal from the Commission made after consulting the Economic and Financial Committee (EFC),
Whereas:
(1)
By Decision 2009/289/EC, the Council decided to grant mutual assistance to Latvia. By Decision 2009/290/EC, the Council decided to provide medium-term financial assistance for Latvia.
(2)
The scope and intensity of the financial crisis affecting Latvia calls for a revision of the economic policy conditions foreseen for the disbursement of the instalments of the Community financial assistance with a view to taking into account the fiscal effects entailed by the significant reduction of the GDP.
(3)
Decision 2009/290/EC should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:

## 1 

Decision 2009/290/EC is hereby amended as follows:
1.. Article 3(5)(a) shall be replaced by the following:
(a) ‘implementation of a clearly-set medium-term fiscal programme so as to bring the general government deficit below the Treaty reference value of 3 % of GDP with a timeframe and consolidation path consistent with the Council recommendation(s) to Latvia adopted under the excessive deficit procedure;’;
2.. Article 3(5)(b) shall be replaced by the following:
(b) ‘implementation of the budget for 2009 and adoption of the budget for 2010 with sustainable measures consistent with the consolidation path;’.

## 2 

This Decision is addressed to the Republic of Latvia.

## 3 

This Decision shall be published in the Official Journal of the European Union.

## Signature

Done at Brussels, 13 July 2009.
For the Council
The President
E. Erlandsson

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Source: https://www.legislation.gov.uk/eudn/2009/592 (the official version)
Page: https://openlegislation.uk/eu-decision-2009-592
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.