Posts tagged as budget

Tallinn participatory budget winning projects announced

Friday, February 5, 2021

A Japanese mini-forest, drinking water standpipes along a health trail and pedestrian underpasses were among the winners chosen from the recent inaugural participatory budget issued by the City of Tallinn and covering all eight districts of the capital. 2021 saw the debut participatory budget for the capital, though a similar process has been going on in Estonia’s second city, Tartu, for some years. In short, the process enables ordinary residents…

Baltic States are the poorest in EU

By Kasparas Jankauskas on Wednesday, January 6, 2021

The Baltic States remain among the poorest regions in the EU. Despite the measures implemented by the leadership of Lithuania, Latvia, Estonia, the level of the minimum wage in these countries is one of the lowest in Europe. The question of setting a minimum wage is one of the most analyzed and debated topics in economics. Over recent years and in the context of the economic and social crisis engendered…

Lithuanian president signs 2021 budget bill into law

Tuesday, December 29, 2020

On Tuesday, Lithuanian President Gitanas Nausėda signed the 2021 budget bill into law. “For four years before the pandemic, Lithuania had surplus public finances. The strong pre-crisis position now allows the country to help its health system, people and businesses withstand the challenges of the pandemic,” the president said in a press release. “However, next year’s budget deficit of 7 percent of GDP must be a short-term phenomenon: temporary relief…

Receipt lottery has brought nearly 2 million euros to budget

Tuesday, December 29, 2020

In seventeen months since the receipt lottery was launched in Latvia, it has grown state budget revenue by 1.96 million euros, said State Revenue Service (VID) December 29. The purpose of the  receipt lottery is to promote fair competition and voluntary fulfilment of tax obligations by encouraging buyers to demand checks and receipts for purchased goods and services. In order to participate in the lottery, a receipt, check, or a ticket…

Lithuanian parliament adopts 2021 budget

Wednesday, December 23, 2020

On Tuesday, the Lithuanian parliament adopted the 2021 budget with 77 votes in favour, two votes against, and 49 abstentions. The budget provides for a general government deficit of 7 percent of GDP, mostly due to the 934 million euros allocated to contain the coronavirus pandemic. The government may submit a revised budget next year if more funds are need to cope with the crisis, according to Prime Minister Ingrida…

Lithuania to boost crisis spending by €1bn in 2021 budget

Monday, December 14, 2020

Lithuania plans to allocate an additional 1 billion euros in the country’s 2021 budget for crisis management, according to Mykolas Majauskas, chairman of the parliamentary Committee on Budget and Finance. “Some 200 million euros will be allocated for the measures being implemented by the Economy and Innovation Ministry, and the tax deferral measures by the Finance Ministry will get some additional 200 million euros,” Majauskas told LRT on Monday, adding…

Levits: 2021 budget may need to be adjusted later on

Tuesday, December 8, 2020

President Egils Levits said the budget adopted for 2021 was “not unsuccessful” but he would add his comments when signing it, Latvian Television reported December 7. He said the budget, which was debated in the Saeima for over a week, had been adopted as a matter of urgency, so he has no chance of sending it for reconsideration, but he will add his comments to the budget package. He said there…

‘Protection money’ bill to go to vote unamended

Monday, December 7, 2020

No change has been made to the list of entries due so-called ‘protection money’ ahead of this year’s full state budget. The Riigikogu’s finance committee passed the list unamended on Monday, for voting same day. The scheme allows political parties to assign sums of money in proportion to their representation, to projects of their choosing, usually of a social, sporting, religious and particularly regional nature. As such it is seen…

2021 budget passed by Saeima after record-breaking debate

Wednesday, December 2, 2020

Following more than a week of lengthy deliberations, the Saeima finally passed the 2021 budget plan on December 2, at the end of a parliamentary session that started on November 23. The days between were largely taken up by opposition deputies blasting both the budget plans themselves and the low level of participation in the debates by representatives of the ruling coalition. Despite having their speaking time cut, opposition members managed…

Final 2021 budget vote scheduled for December 9

Wednesday, December 2, 2020

The third reading and final vote of the 2021 state budget is currently scheduled to take place on December 9, the chairman of the Riigikogu Finance Committee has said. Aivar Kokk (Isamaa) told ERR: “At the moment, this is the decision.” The Finance Committee will also meet tomorrow to discuss the latest amendments. On November 19, the draft state budget passed the second reading in the Riigikogu. State budget expenditures…