During the Cabinet meeting that took place on 28 August 2018 the Cabinet discussed an agenda item that foresees the reallocation of  savings. The Council objects to the decision to reallocate savings. This decision increases maximum permissible government expenditures for 2018 by 1 287 700 euro. The Council contends that the decision to reallocate the funds among state social benefits beneficiaries within the Ministry of Welfare programme creates a non-conformity with the Fiscal discipline law.

The Fiscal discipline council, for the first time in Latvia, has conducted a survey of Latvia's largest parties on the fiscal impact of their pre-election promises before the forthcoming Saeima elections. The Council has founded that political parties express a responsible attitude towards the public finances.

Fiscal sustainability refers to the ability of a government to maintain its current revenue and expenditure policies, without failing to meet its commitments and obligations, or leading to an unmanageable growth of public debt. Analysis conducted this year indicates that both the provision of public services and public debt service will create challenges.

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On 7 September 2018 this year's third GDP working group meeting was held with participation of the Bank of Latvia experts. Working group discussed the trends in the macroeconomic development of Latvia, incl. labor market issues, as well as potential GDP and output gap issues. 

The Fiscal Council disagrees with the redistribution of funds in the law-protected budget program. More information available in Latvian.

The Fiscal discipline council, for the first time in Latvia, has conducted a survey of Latvia's largest parties on the fiscal impact of their pre-election promises before the forthcoming Saeima elections. The Council has founded that political parties express a responsible attitude towards the public finances.

 

Why people should not be indifferent to the public debt, how it affects our daily lives, and why the borrowed money should be taken with the responsibility - these and other issues related to the public debt will be opened for the discussion at this year's Lampa conversation festival at the panel organised by the Fiscal discipline council.

Council meeting was held on 12 June 2018 in which the experts of the European Court of Auditors and the Ministry of Finance participated.

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