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Latvian state budget plan for 2015: revenue – EUR 7.25 billion, expenses – EUR 7.47 billion

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe next year’s state consolidated budget revenue is planned at EUR 7.253 billion. Budget expenses are planned at EUR 7.471 billion, as stated in the next year government budget plan.

The consolidated budget includes the base amount for the state base budget and the state special budget. This excludes the possibility of inter-budget calculations between them.

Compared to the budget plan of 2014, the next year’s budget provides for an increase of revenue by EUR 208.6 million and increase of expenses by EUR 283.3 million.

The state budget’s revenue is planned at EUR 5.153 billion next year. Expenses of the state budget are planned at EUR 5.534 billion. The total estimated increase of state budget expenses, in comparison with 2014, is EUR 211.1 million (4%). Budget expenses will nonetheless be reduced by EUR 27.1 million, which is realized as part of European Union (EU) policy instruments and other foreign financial assistance co-financed projects. The increase of EUR 238.1 million of budget expenses is meant to ensure basic functions of the state. This includes a transfer of EUR 0.4 million from the base budget to the special budget, EUR 30.1 million as contribution to the EU budget, EUR 10.3 million to subsidies and grants and EUR 102.8 for regular budget expenses.

Revenue and expenses of the state special social insurance budget are planned at EUR 2.31 billion and EUR 2.147 billion respectively. The state special budget’s expenses are planned to be increased by EUR 72.7 million or 3.5% in 2015.

In 2015, the state budget’s plan for political initiatives and other support measures reaches EUR 180.053 million. Of that amount, the additional funding for new political initiatives is EUR 161.447 million. Other measures will be provided with EUR 18.606 million.

The calculation of the next year’s budget was based on the GDP outlook in actual prices for 2015 – EUR 25.366 billion.

Next year’s allowed general budget deficit is planned at 1% of GDP.

The maximum state debt has been set to EUR 8.65 billion for the end of 2015.

It is stated in the draft that the Finance Minister can provide a state guarantee worth EUR 37,752 million on behalf of the state in 2015.

The state budget loan increase has been set at EUR 177.819 million.

The maximum allowed amount of budget expenses for maintenance of state loans has been set at EUR 764.776. The allowed limits for the government’s ability to cover state guarantees at the expense of the state budget in 2015 have been set at EUR 133.82 million.

The draft also allows the Finance Minister to cover state loans worth EUR 5.727 million for liquidated companies in 2015.

The total increase of municipal loans has been set at EUR 56.915 million for the realization of projects co-financed by the EU and other foreign countries.

Education and Science Ministry will be provided with EUR 1.922 million to cover education programmes loans and tuition fee loans.

The draft also states that the division of PIT revenue among the state and municipal budget will be as follows: municipal budgets – 80% and state budget – 20%. PIT rate is 23%, tax-free allowance – EUR 75 and PIT benefit for dependants is EUR 165. The expected PIT revenue in municipal budgets is EUR 1.133 billion.

According to the draft, the state budget revenue for 2015 is planned at EUR 7,252,880,995 and expenses – EUR 7,470,841,975.


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  1. ikke48 says:

    please learn to use properly millions and billions and decimal points, because now it is one big mess: The next year’s state consolidated budget revenue is planned at EUR 7.253 million. Budget expenses are planned at EUR 7.471 million, as stated in the next year government budget plan. AND : The state budget’s revenue is planned at EUR 5.153 billion next year. Expenses of the state budget are planned at EUR 5.534 billion

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