On Thursday, 8 December, the Saeima supported in principle the draft state budget in the first reading and pursuant to the Rules of Procedure of the Saeima recognised it as urgent.

The budget law package contains the Draft Law on the State Budget for 2012 and 29 budget-related laws.

It is planned that in 2012 consolidated budget revenues will be in the amount of LVL 4.52 billion and expenditures in the amount of LVL 4.64 billion. Earmarked subsidies for local governments are planned in the amount of LVL 210.7 million. Annual average inflation is estimated at 2.4% of GDP.

The deadline for submitting proposals for amendments to the draft state budget for 2012 was set for 11:00 on Friday, 9 December.

It is expected that on 15 December the Saeima will vote on the Draft Law on the State Budget for 2012 and amendments to 29 budget-related laws in the second and final reading.

Saeima Press Service