2025 state budget bill submitted to Saeima

RIGA - Saeima Speaker Daiga Mierina (Greens/Farmers) today accepted the 2025 draft state budget bill from Finance Minister Arvils Aseradens (New Unity) at the Saeima building.

The 2025 state budget is a budget for national security and support for vulnerable social groups, said Mierina. "The budget offers a lot to make our nation and citizens feel better, safer and more secure," she said.

Mierina is pleased that significant steps are being taken in welfare to improve well-being of residents. The 2025 budget is a result of a series of difficult negotiations, she added.

The budget does not cover all needs, for example, insufficient funding will be earmarked for healthcare, and it is currently unclear what funding will be allocated for education reforms, acknowledged Mierina.

As reported, next year's consolidated budget revenue planned at EUR 15.081 billion and expenditure at EUR 17.093 billion.

Compared to the 2024 budget, the planned budget revenue in 2025 is projected to be EUR 583.2 million higher. Meanwhile, budget expenditure in 2025 is planned to be EUR 876.5 million higher than in the 2024 budget law. The basic budget is planned to receive EUR 10.2 billion in revenue, while expenditure is planned at EUR 12.7 billion. The special budget, on the other hand, is planned to raise EUR 5.2 billion, while special budget spending is planned at EUR 4.7 billion.

Internal and external security has been set as the top national priority.

Next year's general government budget deficit is planned at EUR 1.3 billion, or 2.9 percent of gross domestic product (GDP).

In next year's budget, a ceiling on public debt has been set at EUR 21 billion, or 47.3 percent of GDP at the end of 2025. Latvia's GDP, on the other hand, is projected at EUR 44.379 billion in 2025.

The GDP growth forecasts used in the preparation of the budget bill are 2.2 percent for 2025, 2.2 percent for 2026 and 2.2 percent for 2027.