Latvia recorded a Government Budget deficit equal to 1.80 percent of the country's Gross Domestic Product in 2024. Government Budget in Latvia averaged -2.35 percent of GDP from 1995 until 2024, reaching an all time high of 1.40 percent of GDP in 1997 and a record low of -9.50 percent of GDP in 2009. source: EUROSTAT

Government Budget in Latvia is expected to reach -3.20 percent of GDP by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Government Budget is projected to trend around -3.30 percent of GDP in 2027, according to our econometric models.



Related Last Previous Unit Reference
Asylum Applications 145.00 135.00 persons Nov 2025
Government Budget -1.80 -2.40 percent of GDP Dec 2024
Government Debt to GDP 46.60 44.40 percent of GDP Dec 2024
Government Spending to GDP 45.60 43.40 percent of GDP Dec 2024


Latvia Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-1.80 -2.40 1.40 -9.50 1995 - 2024 percent of GDP Yearly