“The surplus in the general budget was facilitated by a significant increase in revenues by 1.3 billion euros or 17.3% compared to the corresponding period of the previous year, with revenues amounting to 9 billion euros,” said the ministry.
“The rapid increase in revenues was mainly ensured by foreign financial assistance (FFA) revenues for implemented European Union (EU) fund projects, which were received in the first half of this year in the amount of almost 1.4 billion euros, which is 667.1 million euros or 91.8% more than a year before. Among them, the second payment from the EU Recovery Fund in the amount of 335.7 million euros was received in May of this year, as well as an advance of the Just Transition Fund in the amount of 57.5 million euros was received in March,” the ministry added.
“Revenues from the EU’s structural and investment funds and common agricultural policy implementation instruments reached 725.3 million euros in the first half of this year, where revenues from the Cohesion Fund in the amount of 130.4 million euros were 92.5 million euros higher than in six months a year ago, as well received a total of 480 million euros from the European Agricultural Guarantee Fund (EAGF) and the European Regional Development Fund (ERDF), which is 49.3 million euros more than in the first half of last year.”
According to the 2025 state budget preparation schedule, the Finance Ministry will now update the forecasts of the general government budget balance for the medium term and submit them for consideration at the meeting of the Cabinet of Ministers due to be held August 13.
The full figures for the first six months of the year can be found here.
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Source link : https://eng.lsm.lv/article/economy/economy/01.08.2024-eu-funds-make-a-big-difference-to-latvias-budget-balance.a563491/
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Publish date : 2024-08-01 07:55:28
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