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Latvian Finance Ministry increases government debt outlook

Finance Ministry has decided to increase the government debt outlook in Latvia’s Stability programme 2017-2020 for the current and future years.

In last year’s stability programme, the ministry predicted the government debt to be at 38.3% of GDP for 2017. Most recent estimates, however, suggest the government debt may be 0.9 percentage points higher than that – 39.2% of GDP.
 

The previous estimate for the government debt for 2018 was 37.5% of GDP. New estimates suggest the debt may be 38.2% of GDP.
 

Also, if the government debt for 2019 was previously estimated at 38.2% of GDP, current estimates suggest it may be 1.2 percentage points higher – 39.4% of GDP.
 

Finance Ministry explains that the government debt outlook for 2017-2020 has been increased in comparison with 2016-2019 stability programme, considering topical financial balance, fiscal space and budget’s available financial resources, new political priorities in the finance field, as well as new economic development predictions.

BNN/LETA

19-04-2017
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