Analytics, Budget, Financial Services, GDP, Latvia
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Thursday, 28.03.2024, 22:36
General government budget surplus amounts to 9.5 mln euros in Latvia in October
Main indicators of the October
2017 Notification on General Government Budget Deficit and Debt
|
2013 |
2014 |
2015 |
2016 |
Budget deficit (-)/ surplus (+), mln EUR |
||||
General
government |
-219.2 |
-288.3 |
-298.0 |
9.5 |
Central government |
-40.6 |
-324.4 |
-414.0 |
-13.7 |
Local governments |
-100.2 |
-51.8 |
79.6 |
56.2 |
Social security fund |
-78.4 |
87.9 |
36.4 |
-33.0 |
General government consolidated gross debt at nominal value at the end of
year, mln EUR |
8 892.7 |
9 668.5 |
8 953.3 |
10 091.6 |
Gross domestic product at current prices, mln EUR |
22 786.6 |
23 618.2 |
24 270.8 |
24 866.4 |
As % of GDP |
||||
General
government budget deficit (-) |
-1.0 |
-1.2 |
-1.2 |
0.04 |
General government consolidated gross debt at nominal value at the end of
year |
39.0 |
40.9 |
36.9 |
40.6 |
Unlike the cash
flow data indicated in the Annual Report of the Ministry of Finance, where the
consolidated budget deficit of 2016 was indicated as EUR 100.3 mln or
0.4% of the GDP, the general government sector data calculated by the CSB in accordance
with the methodological requirements of ESA 2010 showed budget surplus.
In accordance
with the methodological requirements of ESA 2010, some revisions were made to
the general government sector data: financial transactions were excluded from
the government sector balance, the impact of EU funds was neutralised, the data
on companies reclassified to the general government sector were included,
requirements for debtors and obligations of creditors were adjusted, as well as
other revisions were made.
The most notable
revisions were made to the central government sub-sector data on previous years
that were corrected based on the methodological changes introduced at the
European Union level – Deposit Guarantee Fund was reclassified from the
financial corporations sector to the general government sector, classification
changes were made to the proceeds from standard UMTS licenses, and funds of
other EU policy instruments were audited.
Calculations of
the October 2017 Notification are based on the data of the Ministry of Finance,
the Treasury, State Social Insurance Agency, CSB, Riga City Council, State Real
Estate Agency and institutions involved in the administration of foreign funds.
Information on
the results of the October 2017 notifications of all EU Member States will be
published by Eurostat on 23 October.
More information
regarding the Notification on General Government Budget Deficit and Debt is
available in the CSB website section Government Finances.
The revisions made to the
general government sector have affected also other macroeconomic indicators,
the changes of which in figures are available in the CSB database.