The headline is that package of 2025 budget bills is expected to be submitted to the Saeima on October 15 this year. Before then there is a lengthy list of other important dates and deadlines as outlined below.
- March 2024
- Conversations between other Ministers and the Minister of Finance on the goals and results of sectorial policies, medium-term priority directions
- April 19, 2024
- Submission of fiscal risk management report to the Ministry of Finance
- April 30, 2024
- Stability programs 2024-2028 approval by the Cabinet of Ministers
- Stability programs 2024-2028 submission to the Saeima
- Stability programs 2024-2028 submission to the European Commission
- May 10, 2024
- Submission of information to the Ministry of Finance for the preparation of the basic state budget project for 2025, 2026, 2027 and 2028, using the information provided by the Ministry of Finance
- May 14, 2024
- Examination of the informative report on the development directions of result-oriented budgeting in the Cabinet of Ministers
- On a date to be determined by the Saeima
- Report of the Minister of Finance at the Saeima session on the Stability Program, including the macroeconomic development scenario, the medium-term goals of the fiscal policy, as well as the possible priority development directions of the state budget
- June 18, 2024
- Decision-making in the Cabinet of Ministers on medium-term goals and medium-term priority directions
- June 28, 2024
- Submission of proposals on priority measures and the funding necessary for their implementation to the Ministry of Finance and the State Chancellery
- July 18, 2024
- Submission of a report to the Ministry of Finance in the case referred to in Article 20 of the Law "On the State Budget for 2024 and the Budget Framework for 2024, 2025 and 2026"
- August 8, 2024
- Submission of a report to the Cabinet of Ministers in the cases referred to in Articles 19 and 20 of the Law "On the State Budget for 2024 and the Budget Framework for 2024, 2025 and 2026"
- August 13, 2024
- Examination of the report in the Cabinet of Ministers in the cases referred to in Articles 19 and 20 of the Law "On the State Budget for 2024 and the Budget Framework for 2024, 2025 and 2026"
- Examination of the informative report "On forecasts of macroeconomic indicators, revenues and general government budget balance in 2025, 2026, 2027 and 2028" in the Cabinet of Ministers
- Examination and approval of the declaration of fiscal risks in the Cabinet of Ministers
- Consideration of the informative report "On the base of the state basic budget and the state special budget and the results of the review of expenditures for 2025, 2026, 2027 and 2028" in the Cabinet of Ministers
- Consideration of the informative report "On the priority measures of ministries and other central state institutions for 2025, 2026, 2027 and 2028" in the Cabinet of Ministers
- August 27, 2024
- Taking into account the medium-term general government budget goals and fiscal policy priorities (paragraph 9), adoption of a decision in the Cabinet of Ministers on priority measures to be included in the state budget bill for 2025, 2026, 2027 and 2028
- August 29, 2024
- Calculation of the total amount of the maximum permissible state budget expenditures of the ministries for 2025, 2026, 2027 and 2028 and submission to the Ministry of Finance
- September 2, 2024
- Calculating the maximum allowable total amount of state budget expenditures and sending estimates of the maximum allowable total amount of state budget expenditures of the ministries for 2025, 2026, 2027 and 2028 to the ministries
- Submission of updated information on the progress in the implementation of the specific recommendations of the EU Council countries to the Ministry of Finance (if no agreement is reached with the European Commission on extending the deadline for submitting the Fiscal Structural Plan for 2025-2028 until October 15, 2024)
- September 12, 2024
- Preparation and submission of bills accompanying the budget (packages of budget bills) to the Cabinet of Ministers
- September 13, 2024
- Preparation and submission of the state budget requests of the ministries for 2025, 2026 and 2027 to the Ministry of Finance
- September 17, 2024
- Examination of draft laws accompanying the budget (budget bill packages) in the Cabinet of Ministers
- Fiscal structural plan 2025-2028. approval by the Cabinet of Ministers (if no agreement is reached with the European Commission on extending the submission deadline until October 15, 2024)
- September 20, 2024
- Fiscal structural plan 2025-2028. submission to the European Commission and the Council (if no agreement is reached with the European Commission on extending the submission deadline until October 15, 2024)
- September 24, 2024
- Examination of draft laws accompanying the budget (budget bill packages) in the Cabinet of Ministers
- September 30, 2024
- Submission of updated information on the progress in the implementation of the specific recommendations of the EU Council countries to the Ministry of Finance (if an agreement is reached with the European Commission on extending the deadline for submitting the Fiscal Structural Plan for 2025-2028 until October 15, 2024)
- October 8, 2024
- Consideration of the draft protocol of agreements and disagreements between the Cabinet of Ministers and the Union of Local Governments of Latvia
- October 10, 2024 (extraordinary meeting)
- Approval of the draft law "On the state budget for 2025 and the budget framework for 2025, 2026 and 2027" (with explanations) in the Cabinet of Ministers
- Approval of the draft general government budget plan for 2025 in the Cabinet of Ministers
- Fiscal structural plan 2025-2028. approval by the Cabinet of Ministers (if an agreement is reached with the European Commission on extending the submission deadline until October 15, 2024)
- October 15, 2024
- Draft law "On the state budget for 2025 and the budget framework for 2025, 2026 and 2027" (with explanations, fiscal risk declaration, fiscal discipline monitoring report of the Fiscal Discipline Council, accompanying bills (package of budget bills), Cabinet of Ministers and Latvian Municipalities union agreement and protocol of disagreements) submission to the Saeima
- Submission of the draft general government budget plan for 2025 to the European Commission and the Eurogroup
- Fiscal structural plan 2025-2028. submission to the European Commission and the Council (if an agreement is reached with the European Commission on extending the submission deadline until October 15, 2024)
After all that, the Saeima will need to schedule when the actual budget debates and votes will take place, which frequently turn into endurance marathons. All of the above remains provisional and is subject to revision if, for example, the government changes.
2025 budget graphic
Photo: Ministry of Finance
