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Saturday, 27.04.2024, 06:57
Vilks: budget priorities in 2015 will focus on defense, healthcare and social inequality
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Vilks said that next year's budget would have to be approved by the end of this year, though he is not sure whether this will be possible. The next year's budget planning period will be as "hot" as the 2010/2011 period, he predicted.
It is clear that the budget income is declining, as the economic development will not be as fast as before. In budget discussions, Vilks will suggest to slow down the expenses. "I suggest to postpone the budget planning for those programs that can wait," the minister said.
Prime Minister Laimdota Straujuma (Unity) stressed that next year's budget would have to be approved by the end of this year. According to her, the Finance Ministry has a plan which stipulates that starting November 10, 2014, the government could hold emergency meetings on a daily basis in order to discuss the budget. Straujuma also indicated that all ministries are urged to prepare plans for austerity measures in the coming two weeks.
As reported, next year's budget deficit is projected at 1% of gross domestic product, while national debt at 34.6% of gross domestic product.
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