Budget, Financial Services, Latvia
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Latvian local government consolidated budget shows deficit of EUR 25.5 mln in 2015
BC, Riga, 08.02.2016.
Print version
Print versionIn 201, Latvia's local government consolidated budget showed a deficit of EUR 25.5 million, informs LETA, according to the Finance Ministry's data.
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In 2015 revenues to the local government consolidated budget amounted to EUR 2.27 billion and expenditures were EUR 2.3 billion.
Last year, the majority of revenues to local governments came from taxes – EUR 1.36 billion, while EUR 738.3 million were transfers from the government budget.
Tax revenues increased last year. Revenues from personal income tax rose 3.6% to EUR 1.15 billion euros, while revenues from real estate tax increased by 3.2% to EUR 197 million.
The Finance Ministry underscored that local government budgets showed a low deficit level.
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