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Latvia submits updated 2015 budget plan to EU Commission
BC, Riga, 26.11.2014.
Print version
Print versionLatvia has submitted its updated next year's budget plan to the European Commission and Eurogroup.
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The European Commission has 30 days to comment on Latvia's document in case any discrepancies are ascertained, the Finance Ministry's spokesman Aleksis Jarockis told LETA.
As reported, the government approved the updated draft budget plan in an emergency meeting on November 22. The said draft stipulates that the deficit cannot be greater than 1% of GDP. Latvia could face backlash from the European Union (halt of funding, etc.) should it fail to hold the deficit down.
The document foresees that the economic growth of Latvia is expected to be 2.8% in 2015, inflation – 2.4%.
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