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Latvia’s 2024 draft budget delivered to Saeima

Saeima Speaker Daiga Mierina (Greens/Farmers) received Latvia’s 2024 draft budget from Finance Minister Arvils Aseradens (New Unity) on Friday.

The traditional presentation of the budget portfolio was also attended by Janis Reirs (New Unity), Chairman of the Saeima Budget and Finance (Taxation) Committee, and representatives of the Finance Ministry.

As reported, the government on Wednesday supported the 2024 state budget and the budget framework for 2024-2026, with the consolidated budget revenues projected at EUR 14.486 billion and expenditures at EUR 16.212 billion.

The general government budget’s revenue next year is projected at EUR 17.8 billion and expenditure at EUR 19.1 billion. The general government budget deficit in 2024 is therefore planned at EUR 1.3 billion, or 2.8 percent of gross domestic product.

The budget deficit in 2025 is projected at 2.3 percent of GDP and in 2026 at 0.9 percent of GDP.

Government debt next year is projected at EUR 18.6 billion, or 41 percent of GDP.

The three main budget priorities next year include internal and external security, education, and healthcare.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)


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