Budget, Financial Services, Latvia
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Latvian budget surplus at EUR 249.6 mln
BC, Riga, 30.09.2016.
Print version
Print versionThe Latvian general government consolidated budget accumulated a EUR 249.6 mln surplus in the first eight months of 2016, the Latvian Finance Ministry informed LETA.
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The ministry informs that both consolidated budget revenue and expenditures in the first eight months reduced almost identical - by EUR 37 mln.
Tax revenue in the first eight months of the year reached EUR 4.87 bln, which was by EUR 238.5 mln or 5.1% more when compared to the same period last year.
The tax revenue target was beaten by 0.2%, or EUR 10 mln, year-on-year, mainly thanks to increased collections of taxes on labor, value added tax and excise duties, the ministry said.
The Finance Ministry informs that this year's budget deficit is planned at 0.9% of GDP, while is by 0.1% less than the allowed limit set in the Law on the 2016 Budget.
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