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 2018 was between 573.5 million and 10.8 billion Euro. The hightest level within the past 20 years was reached in 2017. However, the liabilities in 2018 have been only 10.61 billion Euro
Based on the number of inhabitants, this is in Latvia a debt of 5,504 Euro per person. For comparison: The average debt per person in the same year in the European Union was 28,460 Euro.
Back to overview: LatviaGross debt of the past 20 years in billion Euro
| Jahr | Latvia total | European Union total | Latvia per capita | European Union per capita |
|---|
| 1998 | 0.57 bn € | 542.28 bn € | 238 € | 11,144 € |
| 1999 | 0.90 bn € | 564.55 bn € | 378 € | 11,580 € |
| 2000 | 1.01 bn € | 569.72 bn € | 427 € | 11,669 € |
| 2001 | 1.31 bn € | 585.17 bn € | 562 € | 11,966 € |
| 2002 | 1.10 bn € | 601.06 bn € | 478 € | 12,260 € |
| 2003 | 1.33 bn € | 626.46 bn € | 581 € | 12,731 € |
| 2004 | 1.59 bn € | 673.97 bn € | 703 € | 13,642 € |
| 2005 | 1.61 bn € | 711.45 bn € | 720 € | 14,344 € |
| 2006 | 1.65 bn € | 737.12 bn € | 743 € | 14,806 € |
| 2007 | 1.83 bn € | 747.91 bn € | 834 € | 14,964 € |
| 2008 | 4.39 bn € | 794.75 bn € | 2,017 € | 15,842 € |
| 2009 | 6.77 bn € | 903.82 bn € | 3,160 € | 17,962 € |
| 2010 | 8.41 bn € | 1,014.27 bn € | 4,011 € | 22,971 € |
| 2011 | 8.80 bn € | 1,078.12 bn € | 4,270 € | 24,461 € |
| 2012 | 9.18 bn € | 1,132.19 bn € | 4,512 € | 25,650 € |
| 2013 | 8.98 bn € | 1,167.12 bn € | 4,464 € | 26,377 € |
| 2014 | 9.67 bn € | 1,218.04 bn € | 4,849 € | 27,460 € |
| 2015 | 8.95 bn € | 1,254.07 bn € | 4,528 € | 28,210 € |
| 2016 | 10.09 bn € | 1,247.85 bn € | 5,150 € | 28,011 € |
| 2017 | 10.81 bn € | 1,257.98 bn € | 5,564 € | 28,197 € |
| 2018 | 10.61 bn € | 1,271.52 bn € | 5,504 € | 28,460 € |
Comparison of the gross debt per capita with the European Union in Euro
Latvia European UnionBudget 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 2018 varied between -1.78 billion Euro and +16.20 million Euro. In 2018 was reached a balance of -295 million Euro.
In ratio to population, this equals a new indebtedness of 153 Euro per capita in Latvia only in 2018. For comparison, the average debt per capita in the European Union was in the same year at 222 Euro.
Budget deficit and surplus in the last 20 years
| Jahr | Latvia total | European Union total | Latvia per capita | European Union per capita |
|---|
| 1998 | 1.80 M € | -153,235.20 M € | 1 € | -315 € |
| 1999 | -262.90 M € | -82,111.40 M € | -110 € | -168 € |
| 2000 | -235.20 M € | 52,063.70 M € | -99 € | 107 € |
| 2001 | -180.70 M € | -143,516.40 M € | -77 € | -293 € |
| 2002 | -226.50 M € | -257,294.80 M € | -98 € | -525 € |
| 2003 | -162.50 M € | -321,165.40 M € | -71 € | -653 € |
| 2004 | -120.30 M € | -320,906.80 M € | -53 € | -650 € |
| 2005 | -59.20 M € | -287,691.80 M € | -26 € | -580 € |
| 2006 | -84.20 M € | -197,732.10 M € | -38 € | -397 € |
| 2007 | -116.30 M € | -115,054.90 M € | -53 € | -230 € |
| 2008 | -1,023.90 M € | -325,538.70 M € | -470 € | -649 € |
| 2009 | -1,784.10 M € | -813,104.20 M € | -833 € | -1,616 € |
| 2010 | -1,531.00 M € | -821,133.70 M € | -730 € | -1,860 € |
| 2011 | -872.60 M € | -603,657.60 M € | -424 € | -1,370 € |
| 2012 | -268.50 M € | -574,221.10 M € | -132 € | -1,301 € |
| 2013 | -267.20 M € | -450,901.20 M € | -133 € | -1,019 € |
| 2014 | -341.40 M € | -406,190.30 M € | -171 € | -916 € |
| 2015 | -331.40 M € | -346,320.20 M € | -168 € | -779 € |
| 2016 | 16.20 M € | -248,752.40 M € | 8 € | -558 € |
| 2017 | -155.70 M € | -154,012.00 M € | -80 € | -345 € |
| 2018 | -295.40 M € | -99,201.10 M € | -153 € | -222 € |
(negative numbers = deficit)