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Additional EUR 1.98 million earmarked in Latvia's 2019 budget to meet defense spending target
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    Topics - Defence Matters ENG - News

    Additional EUR 1.98 million earmarked in Latvia's 2019 budget to meet defense spending target

    RIGA, Feb 7 (LETA) - Extra EUR 1.98 million will be earmarked in Latvia’s 2019 budget to ensure that the Defense Ministry’s budget expenditures reach 2 percent of GDP, the government decided Thursday.

    Although the government is expected to take the final decision on this year’s budget expenditures on Friday, February 8, some decisions regarding budget expenditures were made already today.

    At today’s Cabinet meeting, ministers heard that the Finance Ministry would propose draft amendments to lower the cap on cash transactions from EUR 60,000 to EUR 10,000.

    Also, the Corruption Prevention Bureau’s base expenditures for 2019, 2020 and 2021 will be raised by EUR 350,000 to ensure additional long-service pay.

    Likewise, bearing in mind the January update of Latvia’s GDP growth estimate, additional EUR 1.988,400 will be earmarked in Latvia’s 2019 budget to ensure that the Defense Ministry’s budget expenditures reach 2 percent of GDP.

    • Published: 07.02.2019 14:53
    • LETA
    •  
    • © The given news may not be republished in any way or amount, or otherwise used by the mass media or Internet websites, without written permission of LETA. If this provision is not observed, the matter will be taken to court pursuant to the laws and regulations of the Republic of Latvia.