Budget, Good for Business, Latvia

This year revenue in the government consolidated budget is planned at EUR 9.2 bn and expenditure at EUR 9.4 bn. In the government basic budget, revenue is planned at EUR 6.4 bn and expenditure at EUR 6.8 bn. In the government special budget, revenue is planned at EUR 3 bn and expenditure at EUR 2.8 bn, informed LETA.

In 2019, the general government consolidated budget is expected to run a deficit of 0.5% of GDP. Latvia’s GDP, meanwhile, is projected to grow 3% this year.

Representatives of the Finance Ministry indicated that as a result of a revision of this year’s budget expenditure, EUR 51.3 mln would be saved in the 2019 budget, of which EUR 7.6 mln would be used to improve the fiscal space and EUR 43.7 mln have been earmarked for ministries’ priorities.

In this year’s budget, EUR 87.5 mln have been allocated for raising medics’ wages, EUR 8.9 and mln for raising salaries to judges and court employees.

EUR 7.2 mln have been earmarked for measures aimed at combating money laundering and the financing of terrorism.