RIGA - A slight deficit of 1.0 per cent of GDP is expected in Latvia’s budget balance in 2015, and overall compliance with the European fiscal discipline requirements is noted in the medium term. Nevertheless, it does not imply by default that public spending is effective and adequate in light of the national development goals and capabilities. The government launched a review of government spending based on two priority sectors of health and education this March, as well as started the implementation of the principles of zero-based budgeting.
Zero-based budgeting i...
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