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Latvia’s 2020 budget will be the largest ever

 

Latvian budget for next year will be as large as never before and will exceed EUR 10 billion.

Prime Minister Krisjanis Karins (New Unity) said that thanks to economic growth, the budget’s “net increase” is expected to exceed EUR 500 million in 2020.

“The economy is growing, which means that activity continues to grow and tax payments continue to grow, as so does the budget,” he said.

As reported, the Cabinet of Ministers at an extraordinary meeting on April 15 approved Latvia’s Stability Program 2019-2020, projecting a negative fiscal space of minus EUR 11.9 million for 2020.

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