Latvian parliament adopted amendments to increase in the budget for Riga

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After a long debate lasted for as long as 7 hours, the Latvian parliament adopted amendments to the country’s budget for 2018, providing for an increase in the budget by 42.38 million euros.

In many respects this was required because of the transfer of the project not implemented in the past year for the current year. According to the director of the financial department of the Riga City Council, the amount necessary to continue the work is 36.28 million euros.

According to the provided forecasts, the revenues of self-government this year will grow by 1.79 million euros, which should make total 908.41 million euros.

The planned costs will be increased from 954.97 to 997.72 million euros. However, the budget deficit of the Riga Municipality will amount to 89.31 million euros instead of the planned amount of 48.34 million euros.

36.28 million euros are balanced of funds undeveloped in 2017, which are again allocated for the implementation of projects.

The estimated budget balance at the end of 2018 may be about 54 million euros.

It is necessary to attract new funds in the amount of 4.72 million euros to implement various projects.

In total, 18 proposals were submitted. However, only three of them were supported:

  • 400 000 euros for the preservation of cultural monuments.
  • 150 000 euros for the improvement of canteen premises in Riga State Gymnasium Nr3 and in Riga Zolitude Grammar School.
  • 239,581 euros for the payment of cash bonuses to employees of the Riga Social Service
  • 113 778 euros – on surcharges to employees of the City council department of well-being.

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