Gross debt in Latvia

Gross debt of the last 23 years in billion USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      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 2021 varied between -2.86 billion Euro and +6.09 million Euro. In 2021 was reached a balance of -3 billion Euro.
In ratio to population, this equals a new indebtedness of 1,517 Euro per capita in Latvia only in 2021. For comparison, the average debt per capita in the European Union was in the same year at 1,788 Euro.

Budget deficit and surplus in the last 23 years

(negative numbers = deficit)