Budget, Financial Services, Latvia, Security

International Internet Magazine. Baltic States news & analytics Friday, 22.02.2019, 06:36

Additional EUR 1.98 mln earmarked in Latvia's 2019 budget to meet defense spending target

BC, Riga, 07.02.2019.Print version
Extra EUR 1.98 mln will be earmarked in Latvia’s 2019 budget to ensure that the Defense Ministry’s budget expenditures reach 2% of GDP, the government decided Thursday.

Although the government is expected to take the final decision on this year’s budget expenditures on Friday, February 8, some decisions regarding budget expenditures were made already today.

At today’s Cabinet meeting, ministers heard that the Finance Ministry would propose draft amendments to lower the cap on cash transactions from EUR 60,000 to EUR 10,000.


Also, the Corruption Prevention Bureau’s base expenditures for 2019, 2020 and 2021 will be raised by EUR 350,000 to ensure additional long-service pay.


Likewise, bearing in mind the January update of Latvia’s GDP growth estimate, additional EUR 1.988,400 will be earmarked in Latvia’s 2019 budget to ensure that the Defense Ministry’s budget expenditures reach 2% of GDP.







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