Budget, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Wednesday, 20.06.2018, 14:28

Fiscal space for 2018 has been increased to EUR 117 mln in Latvia

BC, Riga, 11.09.2017.Print version
Latvia will have a fiscal space of EUR 117 million in 2018, EUR 90 million in 2019 and EUR 258 million in 2020, Finance Minister Dana Reizniece-Ozola (Greens/Farmers) said after the meeting of the ruling coalition parties on September 8th, cites LETA.

Previously the fiscal space in 2018 was estimated at EUR 81 million but now it has been increased by postponing construction of a new prison in Liepaja, south-western Latvia, the minister explained.


The Cabinet of Ministers is expected to take the decision about putting off construction of the Liepaja prison until 2020 at a meeting behind closed doors later on Friday.


The Cabinet will also discuss revenue and expenditure in the next year's budget today and will consider the ministries' requests for allocations to certain priority measures also at the meeting next week.


In 2018, revenue will be by EUR 19 million higher than expenditure in 2018 but both are expected to be on the same level in the years beyond 218, Reizniece-Ozola said without giving any specific figures as these would still be discussed.

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