Gross debt in Latvia

Gross debt of the last 22 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 2020 varied between -2.52 bn Euro and +43.17 m Euro. In 2020 was reached a balance of -1.52 bn Euro.

In ratio to population, this equals a new indebtedness of 798 Euro per capita in Latvia only in 2020. For comparison, the average debt per capita in the European Union was in the same year at 2,353 Euro.

Budget deficit and surplus in the last 22 years

(negative numbers = deficit)