Financial Services, Latvia, Legislation

At the end of January, the figure was LVL 5.335 billion, LVL 5.806 billion at the end of February, LVL 5.748 billion at end-March, LVL 5.738 billion at end-April and LVL 5.825 billion at end-May, writes LETA.

Government debt at the end of June was LVL 5.630 billion, or LVL 413.614 million more than at the beginning of the year. Municipal debt was LVL 527.642 million at the end of June, down LVL 35.081 million since the beginning of the year, the State Treasury informs.

Latvia's internal debt at the end of June was LVL 719.718 million, whereas external debt – LVL 5.036 billion.

As reported, government debt at the end of December 2011 was LVL 5.348 billion, the State Treasury informed previously. On the other hand, according to the Central Statistical Bureau's data, the general government debt was LVL 6.028 billion in 2011, or 42.6% of gross domestic product.

Under the Maastricht criteria, a country that wishes to adopt the euro must have a total government debt not exceeding 60% of GDP.