Gross debt in Latvia
The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.
The gross debt in Latvia in the period from 1998 to 2019 was between 637.4 million and 13.1 billion USD. The hightest level within the past 21 years was reached in 2014. However, the liabilities in 2019 have been only 12.59 billion USD
Based on the number of inhabitants, this is in Latvia a debt of 6,582 USD per person. For comparison: The average debt per person in the same year in the European Union was 32,667 USD.Back to overview: Latvia
Gross debt of the last 21 years in billion USD
Comparison of the gross debt per capita with the European Union in Euro Latvia European Union
Budget deficit in Latvia
The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.
The budget balance in Latvia in the period between 1998 and 2019 varied between -2.52 billion Euro and +43.06 million Euro. In 2019 was reached a balance of -195.02 million Euro.
In ratio to population, this equals a new indebtedness of 102 Euro per capita in Latvia only in 2019. For comparison, the average debt per capita in the European Union
was in the same year at 332 Euro.
Budget deficit and surplus in the last 21 years(negative numbers = deficit)