bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 17.07.2018 | Name days: Aleksejs, Aleksis

Latvia’s general budget deficit drops to 1% of GDP

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUGeneral government budget deficit at the end of 2013 comprised EUR 223.8 million or 1.0% of the Gross Domestic Product (GDP), and the general government debt comprised EUR 8873.3 million or 38.1% of the GDP.

Compared to provisional data of the Treasury, which show that in 2013 general government consolidated budget deficit comprised EUR 128.4 million or 0.6% of the GDP, budget deficit, calculated in line with the methodological requirements of European System of Accounts ESA’95, is larger by EUR 95.4 million or 0.4% of the GDP, according to the results of the April 2014 general government budget deficit and debt notification compiled by Central Statistical Bureau of Latvia.

Most significant adjustments with negative effect on the general government budget are as follows: government investment in financial institutions and enterprises – adjustment by EUR 62.7 million or 0.3% of the GDP; balance of enterprises controlled and financed by central and local governments reclassified to general government – adjustment by EUR 46.7 million or 0.2% of the GDP; tax adjustment using time adjustment method – by EUR 21.4 million or 0.1% of the GDP; adjustment on income from sale of sate-owned greenhouse gas emissions – by EUR 10.8 million or 0.05% of the GDP.

At the same time, adjustment with positive effect to the general government budget was introduced. This includes the following: adjustments in claims against debtors – by EUR 40.0 million or 0.2% of the GDP; adjustment on income from privatisation – by EUR 9.6 million or 0.04% of the GDP.

Ref: 102.109.109.6633


Leave a reply

Putin in Helsinki denies U.S. election meddling, Trump doesn't object

At the Russia-U.S. summit Helsinki, a key development has been differences in the attitude by U.S. federal officials to Russian interference in the American election process. Days after Washington charged 12 Russians with hacking the computer systems of U.S. officials, U.S. President Donald Trump has accepted the denial of Russian responsibility expressed by Russian President Vladimir Putin.

Stock exchange indexes showing varied trends; oil prices decline

Stock exchange indexes in USA and Europe showed varied trends on Monday, 16 July. Bank profit rise was reported for Q2.

Rezekne Council deputies will not be penalized for releasing newspaper in Russian language

The court has lifted fines previously applied by Corruption Prevention and Combating Bureau on nine deputies of Rezekne City Council for releasing a newspaper produced by the council in Russian language in addition to Latvian.

Volume of imported petrol in Latvia down 2% in five months

The volume of motor fuel imported to Latvia in the first five months has declined 2% in comparison with the same period of 2017. The volume of diesel fuel has declined 14.9%.

Corruption watchdog ends case about Bi-2 concert in Riga

Corruption Prevention and Combating Bureau ended in May the case regarding possible misuse of administrative resources on pre-election promotion by Riga City Council in the form of a free Bi-2 concert in Lucavsala.

Thailand's rescued boys honour casualty of 17-day rescue operation

In Thailand, a 12 boys trapped in a cave have been rescued in a rescue operation that lasted for 17 days and ended with one casualty, a rescue diver.

Latvian political party Progresīvie to nominate women as candidate list leaders

Latvia political party Progresīvie has revealed its list of candidates for 13th Saeima elections. Five women have been stated as leaders of candidate lists.

Estonia earns 150 000 euros from military evaders annually

Estonian compulsory military service is evaded by about 1 000 young men each year, who have to pay fines that annually exceed the combined total of 150 000 euros.

Chairman: FCMC’s competence should end with termination of licenses if banks are liquidated

In the event of liquidation or insolvency, Finance and Capital Market Commission’s competence should end with revoking affected banks’ license and without the need to appoint an administrator, says FCMC chairman Pēters Putniņš.

Minister: Latvia may terminate MPC system in the next three years

In the next three years or so Latvia could completely terminate the mandatory procurement component system, said Economy Minister Arvils Ašeradens in an interview to Rīta Panorāma programme of LTV.

In pictures: French victory in World Cup celebrated by tens of thousands in Paris

After the football World Cup was won by the French national team on Sunday, an enormous crowd of people gathered in central Paris to celebrate.

Another case of African swine fever infection recorded for domestic pigs in Latvia

African swine fever infection was recorded for domestic pigs in Tērvete on Monday, 16 July. 16 pigs were liquidated because of the infection, as reported by Food and Veterinary Service.

MEP Artis Pabriks becomes political party «Attīstībai/Par!» prime minister candidate

Latvian political party «Attīstībai/Par!» has picked Daniels Pavļuts, Juris Pūce, Ilze Viņķele, Artis Pabriks and Mārtiņš Bondars as its regional candidate list leaders. Artis Pabriks will also be the party’s prime minister candidate.

Russian-U.S. presidents meet in Helsinki

U.S. President Donald Trump and Russian President Vladimir Putin are meeting on Monday in Helsinki.

Heat of up to +30° C expected in Latvia this week

Weather in Latvia will be warm and even hot at times this week, as air temperature reaches up to +30° C. At night, air temperature is not expected to go below +20° C. Many regions will likely experience thunderstorms closer to the middle of the week, Environment, Geology and Meteorology Centre reports.

Week in Lithuania. Lithuania's Tripartite Council fails to reach agreement

Lithuania's Tripartite Council on Tuesday, July 10, failed to reach agreement on raising the minimum wage. Employers are inclined to back the government's proposal to raise the minimum pay to 420 euros. Meanwhile, trade unions want it increased to 450 euros.

BNN summary of the week: NATO to increase and ABLV Bank loses its license

BNN offers a summary of this week’s topical news in a variety of categories: Future; Deal; Fight; Decline; Decision; Opinion.

SEB Bank to unite life insurance companies working in Baltic States

SEB Bank will unite life insurance companies working in Baltic States, BNN was told by SEB Bank’s representative Agnese Strazda.

Saeima deputy Askolds Kļaviņš becomes suspect in criminal case

Saeima deputy from the Union of Greens and Farmers Askolds Kļaviņš has been made a suspect in the criminal case regarding abuse of official power.

Minister: E-health system has stabilized, but improvements are still needed

Functionality of the E-health portal has stabilized. Disconnection errors have ceased. Nevertheless, we have to continue improving the system further, said Latvian Healthcare Minister Anda Čakša said in an interview to Rīta panorama programme of LTV.

Six to eight Finance and Capital Market Commission officials may work at ABLV Bank

Six to eight FCMC trusties may work at the liquidated ABLV Bank, says Finance and Capital Market Commission chairman Pēters Putniņš.

Latvia’s Cabinet of Ministers receives expanded draft on deposit system

Environment Protection and Regional Development Ministry has submitted to the Cabinet of Ministers an expanded legislative draft regarding amendments to the Packaging Law and Environment Protection Law for their review in the State Chancellery, as confirmed by the ministry’s representatives.

Latvia will not escape talks on increasing defence spending

It is necessary to develop Latvia’s defensive capabilities. Because of that, Latvia cannot escape talks on increasing defence spending to more than 2% of GDP, said Defence Minister Raimonds Bergmanis, who is participating in the NATO summit in Brussels.

Russia extends food product embargo until end of next year

On Thursday, 12 July, Russian President Vladimir Putin decided to extend the embargo on food product imports from countries of the European Union and other countries until the end of next year.

Heat in Latvia to remain for longer; thunderstorms and heavy rain expected, as well

Next week in Latvia will be appropriately hot for summer, as air temperature is expected to reach +30° C at times. Nevertheless, most of Latvia will experience rain and thunderstorms, as reported by State Environment, Geology and Meteorology Centre.

Most read

Most commented