Posts tagged as Finance

Latvian ministries ask for extra funding from next year’s budget

Friday, July 2, 2021

Ministries have requested an additional EUR 1.68 billion for their priority measures in the 2022 budget, the LETA newswire reported July 2, citing the Finance Ministry. In the coming years, ministries have requested even larger sums for priority measures – EUR 2.06 billion in 2023 and EUR 2.46 billion in 2024. According to the Finance Ministry, the largest sum for priority measures in 2022 has been requested by the Health Ministry –…

Estonian local governments table EU fund use proposals

Saturday, January 16, 2021

Proposals from over 20 local governments on the use of European Union funds have been made for 2021 onward, in conjunction with the finance ministry. Regional development is reportedly a major focus in the coming budgetary strategy period. TheAssociation of Estonian Cities and Municipalities (ELVL)presented its EU structural funds proposals to the Ministry of Finance following a brainstorming session the association held, BNS reports. Proposals pertaining to the EU Just…

Estonia needs to take on €2.5 billion in debt in new year

Monday, December 14, 2020

The state needs to take on debt obligations of about €2.5 billion next year, the Ministry of Finance has said, and discussions are underway about how to do so. Ministry undersecretary Märten Ross told ERR this depends on the market situation and would probably not be done only with long-term bonds. “There are many more choices and thoughts here, including depending on what the market situation might be during the…

2021 budget plan delivered to Saeima

Wednesday, October 14, 2020

Finance Minister Jānis Reirs (New Unity) handed in his budget plans for 2021 to the Saeima October 14. As is customary, the proposed budget was contained in an old leather briefcase. The Cabinet of Ministers on Tuesday approved Latvia’s draft budget for 2021, projecting a budget deficit of EUR 1.2 billion, or 3.9 percent of GDP. According to the draft law on Latvia’s 2021 budget, consolidated budget revenue is planned…

Aab: Development of Ida-Viru County requires reorganization of industry

Monday, September 28, 2020

The ability to reorganize the industrial sector of East-Viru County is very important for the development of the region, Estonia’s Minister of Public Administration Jaak Aab has said. Last week, experts at the Ministry of Finance offered the steering committee on transition for Ida-Viru County an overview of the state of play concerning the process and presented the proposals received. The emphasis in the region’s transition to carbon-neutral economy will…

New Latvian government worked for a year – what are the results?

By Lukas Ramonas on Friday, January 24, 2020

January 23 marks the year since the new government began to work. Let’s see what the results are. Summing up the results of the first year of work, the Prime Minister Arturs Krišjānis Kariņš noted that the government coalition “feels strong.” Kariņš reminded reporters that his government had set specific goals for improving the welfare of society a year ago. However, these promises were not fulfilled. Finally, the population lost…

Dilemma for the Baltic States: prosperity or defence

By Adomas Abromaitis on Thursday, October 24, 2019

The Jamestown Foundation, an influential US think tank, published a report in October – “How to defend the Baltic States” written by R.D. Hooker, Jr. The report examines NATO capability to defend its eastern flank – the Baltic States. It contains harsh criticisms towards the Baltic States which do less than they can to strengthen their security. It is stated that “stronger NATO ground forces in the Baltics do not…

No quick decisions on bank asset tax, Lithuania’s finance minister says

Wednesday, October 2, 2019

The ruling bloc’s proposal to introduce a tax on bank assets in Lithuania will be extensively discussed in parliament before any decision is made, according to Finance Minister Vilius Šapoka. “Lithuanian banks are under the supervision of the European Central Bank, and they have to pay contributions to the Deposit Insurance Fund and to the supervision mechanism to ensure stability. There are many circumstances, and all the pros and cons…

Prime Minister says Santa Purgaile will help further finance sector’s «repairs»

Tuesday, September 24, 2019

Approval of Citadele Bank’s board member Santa Purgaile as the head of Finance and Capital Market Commission (FCMC) will help conclude one of the government’s launched «repair stages» in the country’s finance sector, said Prime Minister Krišjānis Kariņš after meeting with her. He says the government had previously proposed performing so-called «capital repairs» in the finance sector. Together with Purgaile’s approval it will help conclude an important stage of this…