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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.
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Title Annotation:LATVIJA IN BRIEF
Publication:The Baltic Times (Riga, Latvia)
Date:Oct 28, 2009
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