Currently it is clear that there will be more discussions about Latvia’s budget for 2024. There are many needs, but we will not be possible to satisfy all of them, said Latvian Prime Minister Evika Siliņa in an interview to LTV programme Rīta panorāma.
For example, there are discussions expected regarding the value added tax rate for fruits and vegetables, because the government has yet to make up its mind on this issue, said Siliņa.
“Maintaining this reduced VAT rate would cost EUR 36 million,” Siliņa commented on the VAT issue, adding that the choice is not simple.
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As for the budget for 2024, Siliņa said it is unclear as to why sports coaches do not even appear on the teachers’ wage increase schedule, which received EUR 95 million in funding in the last budget talks.
The PM plans to ask the Ministry of Education and Science to provide explanations as to the issue with sports coaches wages.
The Saeima committee, meanwhile, will continue discussing the state budget project for 2024.
It is also reported that in the beginning of November the government supported the state budget project for 2024 and budget content for 2024, 2025 and 2026. In it, the state consolidated budget revenue for 2024 is planned at EUR 14.486 billion and expenditures are planned at EUR 16.212 billion.
General government budget deficit for 2024 is planned at EUR 1.3 billion or 2.8% of GDP.
Budget deficit for 2025 is planned at 2.3% of GDP, and 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.
The three main priorities of the budget is domestic and external security, education and healthcare.
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There are many needs, but the budget cannot satisfy all of them, says Latvian PM
