Latvia's state budget deficit at 7.3% of GDP in 2021

Debt

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In 2021, general government budget deficit accounted for EUR 2.4 billion, or 7.3% of the gross domestic product (GDP) and general government consolidated gross debt amounted to EUR 14.7 billion or 44.8 % of the GDP, reported news agency BNN.

Under the impact of COVID-19 pandemic in 2021 general government expenditure, compared to 2020, rose by 16% and reached EUR 14.8 billion, of which EUR 2.1 billion were expenditure on COVID-19 support measures for the national economy.

Revenues increased by 8.2% and reached EUR 12.4 billion, according to provisional results compiled by the statistics office. 

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