Passing of the budget was more orderly than in some previous years with deputies largely rejecting proposals for additional funding and amendments that have sometimes led to extremely long-drawn-out sessions.
The budget bundle includes 30 different draft laws. The largest increase in funding, of 235 million euros - is in the health sector. Meanwhile national defense will receive an additional 126.8 million euros, bringing it up to the NATO recommended minimum spend of 2% of GDP at last.
Public Consolidated Budget Revenues in 2018 are planned to be 8.75 billion euros, while expenditure will 8.95 billion. Consequently Tte deficit is planned at 1% of the country's gross domestic product.
From next year, the value added tax (VAT) rate for Latvian fruit and vegetables will decrease from the current 21% to 5%. According to the estimates of the Ministry of Agriculture, the change will reduce the prices of fruits, berries and vegetables by 3% -12%.