Budget, EU – Baltic States, Financial Services, Health, Latvia, Markets and Companies

According to the minister, current calculations reveal that an additional EUR 9 million could be available next year for new initiatives, which, taking into account the necessity to finance reforms in both the healthcare and education sectors, is too little.

This is why Latvia will request the European Commission for permission to increase the budget deficit in order to carry out structural reforms in the healthcare sector, which the minister believes will benefit the whole Latvian economy.

''We hope that the European Commission will allow us to raise the budget deficit so that we could help finance the healthcare system with an additional EUR 44 million. Next year's budget deficit is planned at 0.9%, but if the EC allows us we will raise the budget deficit to one%,'' the finance minister said.