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Friday, 23.04.2021, 10:56
General budget revenue plan in Latvia has been fulfilled by 91.8% in first five months - Finance Ministry27.06.2020
In the first five months of the year, EUR 4.709 bn were received in total budget revenue and the tax revenue plan was fulfilled by 91.8%, or the revenue was EUR 311.4 mln lower than planned, the Finance Ministry informed LETA.
Keyword tags: Budget, Financial Services, Latvia
The coronavirus pandemic has inflated the economic crisis in Estonia and in the global economy in recent months and is dragging on the future outlook for businesses. Economic uncertainty has caused many long-term investments to be put on hold until more certain times. This is seen in the reduced need of companies to borrow to fund investment. In consequence the total volume of long-term loans and leases issued to companies in the month was even lower in May than in April at 134 million euros, which was some 40% less than before the crisis, meaning the average from April 2019 to March 2020. The volume of short-term loans issued was also a quarter smaller than usual. The continuing pessimism at companies is shown by the notable drop in car leases, which showed no sign of rebounding in May.
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