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"This is the twenty-sixth occasion of the tradition where the Minister of Finance brings the state budget to the Saeima in a symbolic briefcase. The Saeima will get to work immediately —on 9 November, the draft budget will be submitted to the committees; MPs will carefully evaluate, discuss, and provide suggestions regarding the draft budget. On 16 November, it will be considered in the first reading," said Daiga Mieriņa, Speaker of the Saeima, on Friday, 3 November, upon receiving the traditional briefcase containing next year’s draft budget from Arvils Ašeradens, Minister of Finance.

The Saeima Speaker noted that all coalition parties and other Saeima groups were committed to working responsibly and reviewing the budget in plenary sessions during the day, not in the evenings or overnight.

"Historically, the budget increase for the upcoming year can be compared to the growth observed in 2002-2003—before Latvia joined the European Union," stated Jānis Reirs, Chair of the Budget and Finance (Taxation) Committee of the Saeima, and informed that the responsible committee would commence work even before the project was submitted to the committees, when independent institutions would be consulted regarding next year's financing.

Upon handing over the 2024 draft budget to the Speaker of the Saeima, Minister of Finance Ašeradens announced that the budget for the next year, in line with geopolitical and economic challenges, was named the security and sustainability budget. Significant financial resources are to be allocated to the state’s fundamental priority—security—as well as to sustainable growth—education and health.

In 2024, the consolidated state budget revenue is planned at EUR 14.5 billion with the expenditure amounting to EUR 16.2 billion. The total budget deficit is planned at EUR 1.3 billion, which amounts to 2.8 % of the national GDP. The main priorities of the state are set to be internal and external security, education and health.

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Saeima Press Service