Off the wire
• Kabore leads in Burkina Faso presidential election  • 2nd LD: IMF approves inclusion of China's RMB in SDR basket  • China Voice: Yuan and SDR: a welcome change for China and world  • Azerbaijan ready to provide transit of Turkish goods to central Asia  • 1st Ld-Writethru: China's central bank welcomes inclusion of RMB in SDR basket  • China, Brazil to strengthen ties, climate cooperation  • 2nd LD Writethru: U.S. tightens Visa-Waiver Program amid security concerns  • Researchers visualize turbulence from aircraft engines  • 120 rebels evacuate Damascus district under new deal with gov't  • China's central bank welcomes IMF decision to include RMB in SDR basket  
You are here: 　 Home

Latvia's parliament passes 2016 budget in final reading

Xinhua, December 1, 2015 Adjust font size:

Lawmakers passed Latvia's 2016 budget in the final reading at an extraordinary parliamentary session on Monday night.

The budget bill was passed with 61 votes to 34.

Next year, Latvia's budget revenue is anticipated to be 7.4 billion euros (about 7.84 billion U.S. dollars) and expenditure at 7.7 billion euros, with the deficit in Latvia's 2016 budget expected to stay below 1.0 percent of gross domestic product (GDP).

The Latvian economy is projected to grow 3.0 percent next year, to 26.1 billion euros.

Latvia's economic growth rate is expected to accelerate to 3.6 percent in 2017 and 2018.

The government has committed to keeping the budget deficit at 1.0 percent of GDP in 2017 and to reduce it to 0.8 percent of GDP in 2018.

Internal and external security, accessibility of health care and quality of education have been defined as Latvia's main budget priorities for 2016. (1 euro = 1.06 U.S. dollars) Endit