Latvia in surplus for now

  • 2004-05-20
  • Baltic News Service
RIGA - Latvia's national consolidated total budget posted a surplus of 50 million lats (75.57 million euros) after the first four months of the year.

January-April revenues to the total budget this year stood at 761.1 million lats and costs at 716.8 million lats. In April 2004 revenues were 213.41 million lats and costs 203.54 million lats.
Experts are nevertheless reluctant to predict the annual budget performance because of the many changes in taxation following Latvia's accession to the EU, which makes it difficult to forecast further revenues. Also, many requests for additional allocations from the budget have already been made.
Annual revenues to the national budget are planned at 1.92 billion lats, with costs (including net loans) anticipated at 2.06 billion lats, meaning there could be a fiscal deficit of 137.1 million lats, or 2 percent of GDP.