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Wednesday 16.08.2017 | Name days: Astrīda, Astra
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Government starts work on the next year's budget

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In the Cabinet meeting on Tuesday, April 17, the government is planning to confirm the state budget reference expenditure for 2013-2015 and review the additional requests of ministries not included in reference expenditure at total amount of 231 million lats. Thus, the government has started work on the next year’s budget.

According to the budget draft schedule which was confirmed by the government on March 6 this year, draft law on the middle term budget framework for 2013-2015 and draft law on the state budget for 2013 are to be submitted in late September this year, but prior to final decisions it is necessary to ensure overall analysis and discussions, the Finance Ministry informed.

The next year’s budget will be the first after three years under control to be drafted without supervision by international creditors; it will be done with high responsibility by the government and in compliance with the fiscal discipline. However, considering the still quite big budget deficit, the draft budget of 2013 will include only fiscally responsible proposals which can ensure the national development. The government’s task will be to ensure the necessary economical breakaway for Latvia will all available means, the Ministry emphasized.

The next year’s budget will not include consolidation activities, however, to ensure decrease in the budget deficit, it is important to improve the structural balance by 0.5% of GDP. The government is planning to achieve the improvement of the structural balance by 70 million lats on account of economical growth, as well as not allowing increase in expenditure.

Reference expenditure of the general state budget for 2013 are estimated at amount of 3173.1 million lats. For 2014 – 3361.4 million lats, but for 2015 – 3170.4 million lats.

But reference expenditure of the special purpose budget for 2013 are estimated at amount of 1397.0 million lats, for 2014 – 1265.2 million lats, but for 2015 – 1284.4 million lats.

Ref: 102.110.110.661


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