Budget, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Monday, 01.06.2020, 02:02

Latvia: EUR 31 mln of unspent budget funds to be reallocated

BC, Riga, 29.10.2019.Print version
Ministries and other government institutions have saved a total of EUR 31.17 mln in their budgets this year, and the money will be reallocated for other purposes, according to the Finance Ministry's report on the budget funds that have remained unspent and can be reallocated in 2019, reported LETA.

The Finance Ministry had asked all ministries to assess their 2019 budget performance and report on the funds they will not be able to spend according to the stated purpose by the end of the year. Information on such unspent budget funds was received from 11 ministries and the Cross-Sectoral Coordination Center. 

The information provided by the ministries and the Cross-Sectoral Coordination Center suggests that EUR 31,175,000 of their budget funds will remain unused this year. 

The Welfare Ministry has reported the largest amount of budget money - EUR 7.92 mln - that will not be spent by the end of 2019. The Finance Ministry follows with EUR 7.9 mln, the Economics Ministry with EUR 6.88 mln, the Health Ministry with EUR 3.67 mln, the Education and Science Ministry with EUR 1.86 mln and the Interior Ministry with EUR 1.1 mln. 

The Finance Ministry indicates in the report that the government has to decide on the criteria for the reallocation of the spare funds and the activities on which the money should be spent. 

At present, it is planned to reallocate EUR 5.1 mln of the spare funds to the Economics Ministry, EUR 8.88 mln to the Health Ministry, EUR 1.09 mln to the Interior Ministry, EUR 1.54 mln to the Education and Science Ministry, EUR 7 mln to the Transport Ministry, EUR 4.12 mln to the Welfare Ministry, EUR 192,496 to the Justice Ministry, EUR 1.36 mln to the Culture Ministry, and EUR 383,238 to the public broadcasters - Latvian Radio and Latvian Television.

EUR 18,600 will be provided to the Foreign Ministry for the activities of the Baltic Center for Media Excellence. 


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