Fiscal council has announced communication procurement. More information available in Latvian here.

During the Cabinet meeting that took place on 17 October 2017 the Cabinet discussed an agenda item that foresees the reallocation of savings. The Council objects to the decision to reallocate savings. This decision reduces maximum permissible government expenditures for 2017 by 1 008 000 euro. The Council contends that the decision to allocate funds to the Ministry of Education and science and the Ministry of Transport by reducing expenditures on payments to the EU budget creates a non-conformity with the Fiscal discipline law.

 

The budget execution results for 2017 will be positive, despite several recent decisions by the Government of Latvia to increase budget expenditure. With the pace of economic growth picking up, budget expenditure will not grow sufficiently to increase the wages of public sector employees at the same pace as the private sector. This will create new challenges, and decisions will have to be made regarding which priorities to finance with the limited funds available. The reduction of public debt by way of balanced budgets or budgets with a surplus will be an important task of fiscal policy in the near future. These are the conclusions of the Surveillance report, which was published on 5 October by the Fiscal discipline council.

News

 15 November 2017

Fiscal discipline council announced communication services procurement. Procurement application's deadline is 1 December 2017 10:00 o'clock. More information available in Latvian here.

Irregularity report #5 18 October 2017

During the Cabinet meeting that took place on 17 October 2017 the Cabinet discussed an agenda item that foresees the reallocation of savings. The Council objects to the decision to reallocate savings. This decision reduces maximum permissible government expenditures for 2017 by 1 008 000 euro. The Council contends that the decision to allocate funds to the Ministry of Education and science and the Ministry of Transport by reducing expenditures on payments to the EU budget creates a non-conformity with the Fiscal discipline law.

The budget execution results for 2017 will be positive, despite several recent decisions by the Government of Latvia to increase budget expenditure. With the pace of economic growth picking up, budget expenditure will not grow sufficiently to increase the wages of public sector employees at the same pace as the private sector. This will create new challenges, and decisions will have to be made regarding which priorities to finance with the limited funds available. The reduction of public debt by way of balanced budgets or budgets with a surplus will be an important task of fiscal policy in the near future. These are the conclusions of the Surveillance report, which was published on 5 October by the Fiscal discipline council.

Council meeting was held on 4 October 2017. The main agenda items were (i) the main topics to be covered in the Fiscal discipline surveillance report and (ii) developments regarding the non-conformity reports that were published in September.

 

During the Cabinet meeting that took place on 19 September 2017 the Cabinet discussed an agenda item that foresees the reallocation of savings from the budget sub-programmes "Payments to the budget of the European Community" and "State debt management" reducing them for 4 010 609 euro and 96 216 euro accordingly.

Older news