Latvia reported a budget surplus of €148.9m in the first two months of the year, according to the Finance Ministry. “The central government consolidated budget had a €82.3m surplus after the two months, and local government budgets showed a €66.6m surplus. The budget surplus was basically ensured by payments received from the European Commission for the projects implemented in the agricultural sector and area payments, as well as advance payments for the 2014-2029 programing period,” the ministry said in a statement. Tax revenues for January and February accounted for €1.1bn, up 3.5 percent from the previous year. VAT revenue grew by €2.9m y-o-y for the period, while excise tax revenue jumped 7.3 percent from 2015.
