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Government Finance of Latvia

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Overview Economy Population Trade Government Finance Society Environment

Tax Revenue Composition

20.4% 31.4% 40.5%
  • Personal income taxes: 20.4%
  • Corporate income taxes: 5.6%
  • Social security contributions: 31.4%
  • Property taxes: 2.1%
  • Goods and services taxes: 40.5%
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Personal income taxes
20.4%
Corporate income taxes
5.6%
Social security contributions
31.4%
Property taxes
2.1%
Goods and services taxes
40.5%

Source: OECD Global Revenue Statistics Database, 2024.

Government Debt

Government Gross Debt (% of GDP) 47.4% #107 / 184 2026
Government Gross Debt (Local currency - EUR) 21.6B - 2026
Government Net Debt (% of GDP) 38.7% #51 / 86 2026
Government Net Debt (Local currency - EUR) 17.6B - 2026

Fiscal Balance

Fiscal Balance (% of GDP) -3.3% #103 / 189 2026
Fiscal Balance (Local currency - EUR) -1.52B - 2026
Primary Fiscal Balance (% of GDP) -2.1% #123 / 182 2026
Primary Fiscal Balance (Local currency - EUR) -965M - 2026

Revenue and Spending

Government Revenue (% of GDP) 41.5% #35 / 189 2026
Government Revenue (Local currency - EUR) 18.9B - 2026
Government Spending (% of GDP) 44.9% #35 / 189 2026
Government Spending (Local currency - EUR) 20.4B - 2026

International Reserves

Total Reserves (USD) 5.14B #94 / 163 2024

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