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EUR 50 million hole in social budget needs to be mended quickly
BC, Riga, 18.01.2017.
Print version
Print versionThe 2018 state budget will have to mend a EUR 50 million hole in the social budget, Welfare Minister Janis Reirs (Unity) said in an interview with Latvian Television, reports LETA.
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The hole in the social budget is due to the lifting of
minimum social contributions, as a result the social budget may have a deficit
in 2019.
At the moment, there is EUR 0.5 bln surplus in the
social budget. While this may seem a lot, the surplus should actually stand
around EUR 2 bln, or EUR 1 bln at the very least, said Reirs.
The minister is confident that minimum social contributions
must be introduced in Latvia. This will make it possible to increase budget
revenue and, consequently, child benefits and improve residents' social
security.
Reirs also said he would continue to insist that the minimum
wage in Latvia has to be raised faster.
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