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Peteris Krigers. BC's photo.

"We did not support the budget bill and not much has changed since then," said Krigers and explained that Latvia requires a medium-term budget for at least three years, directed towards economic and national development.

Such strategically important areas as education, health care and culture have received less funding, pointed out Krigers. He also previously stated the 2012 budget could increase the share of shadow economy in Latvia.

The 2012 national budget will set moderate development for the state, Finance Minister Andris Vilks (Unity) commented to LETA.

"If this year was a stabilization budget, then the one for 2012 will set moderate development. It must be underlined that we are moving toward balancing things out, so that we can look at a slight surplus already in 2012," said Vilks.

He added that parliament had acted responsibly today in adopting the budget bill.

As reported, Saeima endorsed the 2012 state budget and the 29 bills accompanying the budget in the final reading today.

Consolidated budget revenue next year is projected at LVL 4.516 billion, whereas expenditures – at LVL 4.641 billion.

Budget deficit, calculated pursuant to ESA methodology, will not exceed 2.5% of gross domestic product next year.