Saeima will begin considering next year's draft budget on Nov. 3, reports LETA.
Saeima will begin considering next year's draft budget on Nov.
3, reports LETA. The Cabinet of Ministers at an extraordinary meeting
Oct. 26 approved the state budget proposal for next year. Budget revenue
is projected at 3.78 billion lats (5.4 billion euros) and expenditures
at 4.34 billion lats, a spending deficit of 560 million lats. The
central government budget deficit next year is planned at 5.1 percent of
GDP, municipal budget deficit at 1.7 percent of GDP. With the European Commission's corrections, the budget deficit could increase by
another 1.5 percent, but the total budget deficit will not exceed 8.5
percent of GDP, say the lawmakers. The maximum government debt could
reach 7.5 billion lats by the end of 2010.