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EC positive about Latvia’s 2018 budget project

Photo: Saeima Press Service.
Based on the conclusion from the European Commission, Latvia’s budget project for 2018 fully fits conditions listed in the Stability and Growth Pact. In accordance with EC’s estimates, the structural balance of Latvia’s general budget is viewed at -1.8% of GDP. Government budget expenditures, on the other hand, are expected to grow by 7.1 percentage points.

Finance Ministry adds that it is worth mentioning that for the first time since Latvia has started regularly submitting budget projects to the European Commission and Eurogroup, the plan has been found fully compliant with SGP. The general government budget plan project contains the sale elements as the 2018 state budget draft. The difference is in the form in which it is presented to the European Commission and Eurogroup.

It is also mentioned in the report that Latvia’s general budget plan for 2018 was approved by the government on 10 October. The document was submitted to the European Commission and Eurogroup on 11 October.


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