Budget, Financial Services, Latvia, Legislation
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Thursday, 18.04.2024, 23:26
President promulgates Latvia's 2018 budget and related bills
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The budget bills have been published in Latvijas Vestnesis.
President Vejonis promulgated several of the budget-related bills already
last week.
Saeima passed 30 bills as it decided on Latvia's 2018 budget on November 22
and 23: the budget law, the medium-term budget framework, 26 legislative
amendments and two new laws.
In Latvia's 2018 budget, revenue is planned at EUR 8.75 billion and
expenditure at EUR 8.95 million. The biggest increase is planned in allocations
to health care, and the defense budget will be increased to 2% of GDP in line
with the NATO requirement.
Revenue planned in the 2018 budget is by EUR 725 million higher than this
year and expenditure will be by EUR 625 million higher.
The steepest rise in allocations next year will be for the priorities -
health care, demographic situation, internal and external security and road
maintenance.
Maximum government debt at the end of 2018 is planned at EUR 10.25 billion,
and the GDP forecast for 2018 is EUR 28.3598 billion. The general government
budget deficit next year will be at 1% of GDP.
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