Budget, Financial Services, Latvia
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Friday, 26.04.2024, 06:01
Riga's 2018 budget deficit proves EUR 64 mln smaller than planned
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The local authority had planned to close 2018 with a budget
deficit of EUR 99.4 mln.
According to the financial department’s estimates, the
combined budget deficit of Latvia’s other municipalities amounted to 6.5% of
annual revenue in 2018.
According to the department’s data, revenue in the capital
city’s basic budget totaled EUR 924.8 mln last year, beating the target by EUR
1.4 mln.
Meanwhile, expenditure in last year’s basic budget was EUR
62.9 mln smaller than planned and totaled EUR 960 mln.
In comparison with 2017, municipal budget revenue grew by
EUR 18.7 mln, or 2.1%, the city council’s representatives said.
At the end of 2018, the city’s cash balance was EUR 92 mln in
contrast to the planned EUR 32.8 mln.
As reported, the Riga City Council passed amendments to the
municipal budget, increasing expenditure to EUR 1.023 bn.
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