After rising to 43.7 % of GDP during the Covid-affected year of 2021, Latvia's consolidated general government debt subsided to 40.8 % in 2022.
In the euro area the government debt to GDP ratio decreased from 95.5 % at the end of 2021 to 91.6 % at the end of 2022, and in the EU from 88.0 % to 84.0 %.
In parallel data, provisional results compiled by the Latvian Central Statistical Bureau (CSB) show that in 2022 the general government budget deficit amounted to EUR 1.7 billion or 4.4 % of gross domestic product (GDP), and, compared to 2021, it is EUR 677 million less.
The consolidated gross debt of the general government was 15.9 billion euros or 40.8% of GDP , and during the year it increased by 1.26 billion euros, even though when expressed as a percentage of GDP it fell (see above) according to the preliminary data compiled by the Central Statistics Office.
