RIGA, Dec. 9 (Xinhua) -- The Latvian government adopted a draft budget for 2015 at a cabinet meeting on Tuesday, local media reported.
According to the draft budget, the country's revenue is expected to grow by 208.6 million euros (258 million U.S. dollars) to hit 7.253 billion euros in 2015, while its expenditure is expected to increase by 283.3 million euros to hit 7.471 billion euros.
Latvian President Andris Berzins has met with Finance Minister Janis Reirs to discuss the draft budget.
In an interview with a local TV station, Berzins called the draft budget a good and balanced compromise.
Latvian lawmakers are expected to start debating the 2015 budget bill this week, with the final reading likely to take place on December 17, the online edition of the Diena daily reported.
Latvia expects a budget deficit of 1 percent of GDP in 2015, or 217.961 million euros. The budget has been based on the assumption of a 2.8 percent growth, or 25.366 billion euros, for Latvia in 2015. Under the budget, Latvia's government debt will reach 8.65 billion euros by 2015.
