RIGA, Nov. 14 (Xinhua) -- After two days of debating, Latvian lawmakers passed the Baltic country's 2020 budget in the final reading on Thursday, local media reported.
Prime Minister Krisjanis Karins described next year's budget as a compromise and said that balancing public interests had been the greatest challenge.
In the final ballot, 57 MPs voted for the budget bill in the absence of opposition parliamentarians who chose to walk out of the parliament session in protest to a reduced speaking time.
In 2020, Latvia's general government revenue is planned at 9.894 billion euros and expenditure at 10.002 billion euros.
In comparison with 2019, Latvia's budget revenue is supposed to grow by 717.1 million euros and expenditure by 610.1 million euros.
The budget has been drafted assuming that the national economy will grow by 2.8 percent in 2020.
As promised, there are no plans to make any tax changes next year.
The largest funding increase, worth 228.7 million euros, has been earmarked in the budget for social protection measures, including raising pensions and social benefits. (1 euro = 1.10 U.S. dollars) Enditem
