Members of the Saeima finally passed Latvia's 2019 budget on April 3, with the first quarter of the financial year already gone by, eng.lsm.lv reports.

At an extraordinary meeting on Wednesday, April 3 and lengthy debates, the government's spending plans crossed with 59 votes in favor and 34 votes against.

Budget revenue for this year is planned to amount to 9.2 billion euros and expenditure to 9.4 billion euros.Defense  spending is maintained at the 2% of GDP level recommended to its members by NATO as the acceptable minimum, with a 60-million-euro increase. 7.2 million euros will be channeled to implement the action plan for the implementation of Monyval's recommendations on money laundering and terrorist financing as part of the financial sector clean-up. In order to secure national defense funding, it is planned to divert EUR 60.3 million to two percent of GDP this year. 

The general government budget deficit is planned to be 0.5% of GDP this year. In turn, GDP growth in 2019 is projected at 3%.

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04.04.2019