International Internet Magazine. Baltic States news & analytics
Thursday, 27.10.2016, 17:44
Latvian budget amendments reasonable and correct - Godmanis
The government must fulfill its promises to the international lenders and move toward meeting the Maastricht criteria, achieving a low budget deficit. At the moment, the state is ahead of its budget deficit reduction plan by approximately LVL 175 million. By allotting LVL 70 million, this reserve is nearly halved. From such a point of view, the government's decision is reasonable, emphasized Godmanis.
The decision to increase budget expenditures is also correct, since it facilitates consumption, added the politician, reported LETA.
Assessing the Riga City Council's budget, Godmanis estimated that the municipality's budget deficit is considerable, amounting to around 12 percent.
As reported, on July 10, the government reached agreement on a 70 million lat ceiling for any and all amendments to this year's national budget.
Finance Ministry Parliamentary Secretary Karina Korna informed that the largest amount of additional funding was requested by the Transport Ministry to implement the Latgale development program, maintain roads and cover passenger transporters' losses.
Finance Ministry Deputy State Secretary pointed out that, besides the Finance Ministry's request for extra funds for contributions to the European Union's budget, the Culture Ministry's budget request for theaters, various cultural institutions and the Latvian National Opera will also have a considerable impact.
The Health Ministry's request will be discussed during the next few days. As reported, the Health Ministry wants to receive extra LVL 34.6 million within the framework of this year's budget amendments. The government, however, supported allocating slightly more than LVL 24 million, as Prime Minister Valdis Dombrovskis (Unity) said after the meeting.