European Commission has given positive assessment of Latvia's draft budget for 2023 - Dombrovskis

  • 2023-02-24
  • LETA/TBT Staff

RIGA - The European Commission has given a positive assessment of Latvia's draft budget for 2023 prepared by the Finance Ministry,  Executive Vice-President of the European Commission (EC), Trade Commissioner Valdis Dombrovskis (New Unity) in a Twitter post.

The draft budget prepared by the Latvian government provides for use of EU funds in order to strengthen the country's competitiveness, Dombrovskis said.

Also, Latvia plans targeted support to those residents who need it most, he noted.

As reported, the Saeima on February 17 supported in principle the bill on the government budget for 2023 and budget framework for 2023, 2024 and 2025, according to which the consolidated budget revenue is planned at EUR 12.721 billion and expenditure at EUR 14.673 billion. Compared to the 2022 budget, in 2023 revenue is expected to grow by EUR 2.025 billion and expenditure - by EUR 2.233 billion.

It is planned to hold the final reading of the budget on March 8 and it would come into force on April 1, said the budget committee chairman Janis Reirs (New Unity) earlier.