The tradition of taking the budget case from the Ministry of Finance to the Saeima was introduced in 1997. The traditional presentation was also attended by the Chairman of the Saeima Budget and Finance (Taxation) Committee, Jānis Reirs (New Unity).
The Saeima is expected to consider the draft laws on the state budget in its first reading on October 30.
On Monday, October 14, the government approved the draft state budget for 2025 and the budgetary framework for 2025, 2026 and 2027. The 2025 budget is expected to raise €15.1 billion in revenue and €17.1 billion in expenditure. Compared to this year, revenue is expected to increase by €583 million and expenditure by €876 million. A third of spending will be on social protection, over 10% on defense, including equipping the country's external borders and cyber-security measures, and over 7% on education.
The basic budget is planned to raise €10.2 billion in revenue and €12.7 billion in expenditure. The special budget, on the other hand, is planned to raise €5.2 billion and spend €4.7 billion.
Next year's general government deficit is planned at 1.3 billion, or 2.9% of gross domestic product (GDP), which would be in line with requirements but risks being exceeded if the economy does not develop as fast as expected.
The budget plans to cap public debt at €21 billion or 47.3% of GDP at the end of 2025. GDP next year, on the other hand, is projected at €44.379 billion.
