Budget, Financial Services, Latvia, Taxation

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Budget revenues in Latvia grow by EUR 17.6 mln in Q1

BC, Riga, 27.04.2016.Print version
During the first quarter of 2016, revenues in Latvia's general government consolidated budget rose by EUR 17.6 million against the respective period last year, while budget expenditures increased by EUR 3.6 million, Finance Ministry assistance state secretary for budgetary issues Jolanta Plume told members of the Saeima budget and finance (taxation) committee, cites LETA.

Revenues in the general government consolidated budget totaled EUR 2.214 billion in the first quarter of this year, growing by EUR 17.6 million, or 0.8%, against the first quarter of 2015, while budget expenditures rose by EUR 3.6 million, or 0.2%, to EUR 2.166 billion.

 

Meanwhile, revenues in the central government consolidated budget decreased by EUR 14.4 million against the first three months of 2015, and expenditures grew by EUR 38.4 million year-on-year. Plume explained that the budget expenditure grew primarily as expenditures increased in the special budget.

 

The Finance Ministry's representatives informed that expenditures in the special budget grew as the average size of unemployment and sickness benefits and the number of their recipients increased. Pensions also grew larger because of a recent indexation.

 

The ministry's representatives said that the first-quarter results of the Latvian budget were consistent with annual trends.

 

Tax revenues were 0.1% above the first-quarter target, an indication that the economy has been growing in line with the government's forecasts. Tax revenues in the local government's budget grew twice as fast as in the central government's budget, the Finance Ministry noted.






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