Budget, Financial Services, Latvia
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Tuesday, 09.06.2026, 10:05
Central government consolidated budget surplus at LVL 123.9 mln in January-July
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Compared to the first six months of 2012, central government basic budget surplus increased more than three-fold in January-July, by LVL 128.3 million. Central government special budget deficit reduced by LVL 4.7 million, LETA was informed by the Finance Ministry.
Higher incomes from foreign financial aid and greater non-tax proceeds determined July's favorable fiscal situation. The beneficial economic situation in the country facilitated an increase in tax proceeds, explained the Finance Ministry.
In January-July, central government basic budget revenue amounted to LVL 1.885 billion, of which tax proceeds constituted 65%. Central government basic budget tax proceeds amounted to LVL 1.227 billion, 18% more than in the corresponding period of 2011.
Compared to the respective period of 2011, value added tax revenue increased 20.2% in the first seven months of 2012, corporate income tax revenue – 33.8%, excise tax revenue – 6.2%.
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