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

On 6 June 2017 the Fiscal discipline council in cooperation with the European Commission Representation in Latvia, organised a discussion on fiscal sustainability and the role of the public sector in stimulating economic growth and social welfare. As a result of the discussion, it was concluded that the current level of tax revenues is insufficient to meet the needs of the country and there is a risk that the level of public debt will increase.

Discussion programme, presentations and videos are available here.

On 13 April 2017 Council prepared opinion on Latvia's Stability programme 2017-2020 and on 28 April finalised its work on numerical rules calculations' assessment. By finalising calculations, the main conclusions regarding the expenditure ceilings for 2018 have not been modified. In view of the fact that the Cabinet has not yet discussed the conceptual report On the reform of the health care system and the tax reform is still in development, the Council's calculations differ by the cumulative amount of both deviations from the budget deficit target (249.2 million euro).

 

On 30 March 2017 in cooperation with European Commission Representation in Latvia there was held the expert discussion on Latvia's tax policy reform strategy

Programm, presentations and video (in Latvian) available here.

In the report (December 2016) on public debt argues that, while the current level of public debt is still below the threshold specified in the Fiscal Discipline Law and the Maastricht Treaty, the persistence of deficit spending and a contracting labour force may create sustainability issues in the long term.

Council Macroeconomics expert's Elīna Veide and Fiscal risks expert's Emīls Ķīlis research paper is available here

News

On 16 June 2017 in Tallinn, at National Central Bank of Estonia, for the third time there have met Baltic-Finnish Independent Fiscal discipline institutions. At the annual meeting there have been discussed topical issues of the budget and fiscal policy analysis process of our neighbouring countries.

Fiscal discipline council announced research procurement. Procurement application's deadline is 25 July 2017 17:00 o'clock. 

On 6 June the Fiscal discipline council (hereafter – Council), in cooperation with the European Commission Representation in Latvia, organised a discussion on fiscal sustainability and the role of the public sector in stimulating economic growth and social welfare. As a result of the discussion, it was concluded that the current level of tax revenues is insufficient to meet the needs of the country and there is a risk that the level of public debt will increase.

After receiving and discussing the report from the State Audit Office (approved on 26 April), which claims that the Council has exceeded its institutional mandate by hiring three full-time experts, the Council acknowledges the existence of a legal problem and, in cooperation with the Ministry of Finance and the Saeima, will attempt to resolve it as soon as possible. The Council stresses that the problem arose due to the fact that the execution of its functions objectively requires more than one full-time employee. This has also been acknowledged by the Ministry of Finance and the Saeima.

The Council press release is available in Latvian.

Older news