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.
Saeima pieņēmusi nākamā gada budžetu, paredzot būtiski vairāk līdzekļu veselībai un aizsardzībai. #Budžets2018 pic.twitter.com/LVJ6VjSlQv
— LTV Panorama (@ltvpanorama) November 23, 2017
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.
Saeima pieņem #Budžets2018! Par nākamā gada budžeta prioritātēm ir noteiktas veselības aprūpe, valsts iekšējā un ārējā drošība, kā arī atbalsts demogrāfijas pasākumiem. pic.twitter.com/f5QngujzNN
— Finanšu ministrija (@Finmin) November 23, 2017
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%.
