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Wednesday, 27.05.2015, 22:52
To fill holes in ministry and agency budgets, illegal and economically questionable 'up-front payments' continued to be the case in Latvia in 2014, as a matter of fact they show a serious upward trend, reports LETA, referring to the State Audit Office.
Keyword tags: Budget, Financial Services, Latvia, Legislation
The Tallinn city government decided to submit to the city council the first supplementary budget of 2015, which increases the city budget volume by nearly 34.5 euros million and allocates 5 million euros more to create the city's cooperative bank, Eesti Ühistupank, LETA/Public Broadcasting reports.
Estonian economy and communications minister Kristen Michal confirmed today the dividend of state-owned ports operator AS Tallinna Sadam (Port of Tallinn) at 31.2 million euros, to which income tax expense in the amount of 7.8 million euros is added, LETA/Delfi Ärileht reports.
According to the Ministry of Finance, the Estonian state budget collected revenue of 2.63 billion euros in the first four months of the year 2015; this is 31.1% of the total amount planned in the budget, LETA/Postimees Online reports.
The government of Latvia on May 19th decided that the Welfare Ministry's amendments to the Law on State Pensions would be reviewed once work on the 2016 state budget commences, reports LETA.
Taking into consideration the European Commission's forecast that Latvia will have consolidate the 2016 state budget by 0.3% of gross domestic product, the Finance Ministry is urging the government to act responsibly when reviewing the Welfare Ministry's amendments to the Law on Pensions, as the proposed amendments will have a significant fiscal impact on the budget, writes LETA.
In the first four months of 2015 the State Social Insurance Fund (Sodra) budget revenue was the highest since its establishment and totalled EUR 945.7 million, reports LETA/ELTA.