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The amount of budget consolidation will depend on economic development trends
Preparation of draft state budget for 2011 is going on according to the schedule approved by the Cabinet of Ministers – base expenditure forecasts, macroeconomic development forecasts, draft tax policy guidelines, shadow economy combating plan are prepared, function evaluation is going on in cooperation with the State Chancellery and non-governmental partners. Only the deadline for the submission of World Bank’s assessment of public financing for health, education and social sector is postponed because experts needed additional time till September.
In July consolidated state budget with surplus amounting to 0.9 million lats
According to the information collected by the State Revenue Service (SRS) about the collected revenue in July administered by the SRS it was concluded that the tax revenue plan is almost fulfilled. In total, in previous month the tax revenue received in the state budget administered by the SRS amounted to 303 million lats or ~97 % comparing to the plan.
