2010
DOI: 10.1787/budget-9-5kmh6dmr9zvk
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Budgeting in Latvia

Abstract: At the time of this review, fiscal policy in Latvia was in considerable turmoil as a consequence of the world-wide financial crisis. Thus, some of the usual budget rules and procedures were not followed during budget preparation 2009 and 2010 and budget execution 2009. This review examines the usual budget rules and procedures that were followed until 2008 and also the major institutional revisions that were discussed in 2009. The instability of fiscal policy is a major problem for Latvia and there is an urgen… Show more

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Cited by 5 publications
(3 citation statements)
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“…123 The Local Government Finance Equalization Law LV, 118 (5436), 18.06.2015. 124 Kraan et al (2010).…”
Section: Budgetary Legislationmentioning
confidence: 99%
“…123 The Local Government Finance Equalization Law LV, 118 (5436), 18.06.2015. 124 Kraan et al (2010).…”
Section: Budgetary Legislationmentioning
confidence: 99%
“…In Latvia, the Ministry of Education and Science has shifted the funding mechanisms for schools from one that was based on the number of teachers to one based on the number of pupils (Kraan et al, 2009). The new financing model "money follows a pupil" aims for more equality and transparency in the allocation of resources to cover teachers' salaries (European Agency, 2013).…”
Section: Education Funding Models and Mechanisms And The Distribution Of Roles And Responsibilitiesmentioning
confidence: 99%
“…During boom years, budgeting involved in-year adjustments with at least one supplementary budget and additional expenditures each year (Kraan et al, 2009). In part, this has been due to the instability of governments and the availability of additional cyclical revenues.…”
mentioning
confidence: 99%