Latvian government approved the new state budget priorities funding process, the Finance Ministry reported.
During the meeting of the Cabinet of Ministers on May 3, members of the government reviewed a draft that provided for a new order for financing processes of budget priorities of different ministries starting with the preparation process of the 2018 state budget draft.
Finance Ministry emphasizes that the goal of this project is to introduce a new submission and assessment process for new budget priorities, to make everything simpler, more efficient and emphasize the influence of priorities measures on economic growth and national economy.
The realization of the project will improve the approach towards the review of ministries’ activities and locate internal co-financing for new priorities.
“In addition, all priority measures will be provided with a unified review process. There will also be a reduced administrative burden, and the focus will be put on analysis of priority measures,” the ministry added. (BNN/Business World Magazine)
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