Budget, Financial Services, Latvia, Legislation

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 18:30

Latvian Saeima passes medium-term budget framework law for 2015-2017

BC, Riga, 18.12.2014.Print version
Saeima in Latvia approved in the final reading on Wednesday amendments to the 2015-2017 medium-term budget framework, stipulating a reduction in budget deficit for the coming years, reports LETA.

The said amendments were supported by 60 MPs, 13 opposition members from For Latvia From the Heart and the Alliance of the Regions of Latvia voted against, while 22 members of Harmony abstained from the vote.

 

The law stipulates that the general government budget deficit, calculated according to the European system of national and regional accounts, will be 1% of the gross domestic product (GDP) next year, in 2016 – 0.9% of GDP, in 2017 – 0.7% of GDP.

 

The maximum budget spending forecast for 2015 is EUR 7.47 billion, for 2016 – EUR 6.592 billion, for 2017 EUR 6.573 billion.






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