Latvian PM Evika Siliņa mentioned in her interview to TV3 programme 900 seconds that she hopes the next year’s budget will be reviewed in two days.
She reminded that this week the Saeima will start reviewing the next year’s budget, adding that she hopes the parliament will be able to discuss everything in two days’ time.
Siliņa also said that the coalition has agreed the Saeima would not work at night to approve the budget, considering that it would be easier for residents and the media to follow the approval process without “night shifts”.
As previously reported, the Saeima Budget and Finance Committee passed the legislative draft On the State Budget for 2024 and Budget Content for 2024, 2025 and 2026 for the final reading.
The Saeima plans to review the budget on Thursday, the 7th of December.
According to the budget plan supported by the government in November, the budget plan for 2024 provides for budget revenue of EUR 14.486 billion and budget expenditures of EUR 16.212 billion.
The government’s general revenue for next year was initially planned at EUR 17.8 billion, whereas expenditures were planned at EUR 19.1 billion. The government budget deficit in 2024 is planned to reach EUR 1.3 billion or 2.8% of GDP.
Budget deficit for 2025 is planned at 2.3% of GDP and budget deficit for 2026 is planned at 0.9% of GDP.
The state debt for 2024 is planned at EUR 18.6 billion or 41% of GDP.
Domestic and external security, education and healthcare are set as the main budget priorities.
Compared to the state budget of 2023, the planned budget revenue for 2024 is planned to be EUR 1.763 billion larger. State budget expenditures are planned to be EUR 1.538 billion larger when compared to 2023.
The base budget’s planned revenue is planned at EUR 10.016 billion, whereas expenditures are planned at EUR 12.148 billion. Revenue of the special budget is planned at EUR 4.761 billion, and expenditures – at EUR 4.356 billion.
During the budget preparation process GDP outlook in actual prices for 2024 was EUR 45.524 billion. For 2025 the GDP outlook is EUR 48.338 billion, and for 2026 it is EUR 51.122 billion. Budget preparation process also used a GDP growth rate outlook of 2.5% for 2024, 2.9% for 2025 and 2.9% for 2026.
The inflation outlook for 2024 is 2.2%. For 2025 it is 2.5%, and for 2026 it is 2.3%.
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Latvian PM hopes Saeima will review state budget plan in two days
