Budget, Financial Services, Latvia, Legislation

On April 10th, the government heard the Finance Ministry's report on the base of Latvia's basic and special government budget for 2019, 2020 and 2021 and a list of planned activities not included in base expenditure.

Base budget expenditures in 2019 are projected at EUR 6.73 billion. Compared to the budget expenditure figure included in the law on the 2019 budget framework, expenditures have been increased by EUR 75.5 million, which includes a EUR 57.8 million increase of expenditure on basic functions and a EUR 17.6 million increase of co-funding for EU-funded projects.

Base budget expenditures in 2020 are planned at EUR 7.04 billion. Compared to the budget expenditure figure included in the law on the 2020 budget framework, expenditures have been increased by EUR 49.9 million, which includes a EUR 54.9 million increase of expenditure on basic functions. Meanwhile, co-funding for EU-funded projects has been cut by EUR 5 million.

Base budget expenditures in 2021 are planned at EUR 6.87 billion. Compared to the budget expenditure figure included in the law on the 2021 budget framework, expenditures have been cut by EUR 113.6 million. Expenditures on basic functions have been increased by 7.5 million and co-funding for EU-funded projects reduced by EUR 121.1 million.