Riga City Council decides on municipal budget

On Wednesday, July 15, the temporary administration of the Riga Municipality approved amendments to the City Council's budget for 2020, bringing an additional €33.6 million to the economy support programs announced by the State, said the City Council on July 15.

It has been decided to continue the reconstruction of the open-air concert venue of Mežaparks, whose costs (construction, engineering and construction supervision) have been planned for a total of €23 million over three years (€8 million this year).

69 municipal building energy efficiency projects worth €14 million this year, with a loan of €10.5 million, are to be carried out. In the next two years, the municipality also plans to implement measures for the expansion of pre-school education institutions and the construction of new institutions of €9.5 million.

The Transport Department plans to start this year and complete in 2021 the construction of roadways Imanta-Daugavgrīva and Center-Ziepniekkalns, as well as the construction of parking spaces. Meanwhile, Riga Municipality Police plans to develop the city's video surveillance systems, the Welfare Department will improve social care centers and homes.

Investments of €1.7 million are also planned for the renovation of the Riga First hospital surgery blocks.

In order to mitigate the consequences of the COVID-19 emergency announced in the country, the municipality restored the council's reserve fund to €13 million by reviewing the budget expenditure planned by the executive bodies.

In approving the budget, the planned amount of municipal borrowing in 2020 was EUR 13.5 million less than the planned repayment of loans, while the amount of debt liabilities to be covered by the municipality accounted for 11.4% of revenues in the current year, meeting the requirements of the 20% benchmark. Therefore, state measures to support the economy do not threaten the stability of the city budget.

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Economy
Economy

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