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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 m and 13.1 bn USD. The hightest level within the past 21 years was reached in 2014. However, the liabilities in 2019 have been only 12.59 bn 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.


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Gross debt of the last 21 years in billion USD




JahrLatvia totalLatvia per capitaEU per capita
19980.64 bn USD264 USD12,387 USD
19990.96 bn USD403 USD12,342 USD
20000.93 bn USD394 USD10,778 USD
20011.18 bn USD503 USD10,717 USD
20021.04 bn USD452 USD11,593 USD
20031.50 bn USD657 USD14,402 USD
20041.98 bn USD874 USD16,970 USD
20052.01 bn USD896 USD17,846 USD
20062.07 bn USD933 USD18,591 USD
20072.51 bn USD1,143 USD20,509 USD
20086.64 bn USD3,047 USD23,520 USD
20099.64 bn USD4,501 USD25,266 USD
201011.34 bn USD5,407 USD30,683 USD
201112.47 bn USD6,053 USD34,278 USD
201212.04 bn USD5,916 USD33,161 USD
201312.19 bn USD6,057 USD35,247 USD
201413.06 bn USD6,550 USD36,694 USD
201510.10 bn USD5,109 USD31,489 USD
201611.34 bn USD5,787 USD31,202 USD
201711.88 bn USD6,118 USD32,056 USD
201812.77 bn USD6,628 USD33,826 USD
201912.59 bn USD6,582 USD32,667 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 bn Euro and +43.06 m Euro. In 2019 was reached a balance of -195.02 m 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

JahrLatvia totalLatvia per capitaEU per capita
19982.00 M USD1 USD-350 USD
1999-280.20 M USD-117 USD-180 USD
2000-217.23 M USD-92 USD98 USD
2001-161.83 M USD-69 USD-263 USD
2002-214.18 M USD-93 USD-496 USD
2003-183.82 M USD-80 USD-738 USD
2004-149.64 M USD-66 USD-808 USD
2005-73.65 M USD-33 USD-722 USD
2006-105.72 M USD-48 USD-499 USD
2007-159.39 M USD-72 USD-315 USD
2008-1,534.34 M USD-705 USD-951 USD
2009-2,519.15 M USD-1,176 USD-2,252 USD
2010-2,048.74 M USD-977 USD-2,486 USD
2011-1,172.90 M USD-569 USD-1,907 USD
2012-400.47 M USD-197 USD-1,689 USD
2013-369.48 M USD-184 USD-1,354 USD
2014-496.99 M USD-249 USD-1,226 USD
2015-386.66 M USD-196 USD-871 USD
201643.06 M USD22 USD-620 USD
2017-238.03 M USD-123 USD-406 USD
2018-279.54 M USD-145 USD-288 USD
2019-195.02 M USD-102 USD-332 USD


(negative numbers = deficit)