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Latvia Government Backs 2011 Budget With 5.5% Deficit, Leta Says

The Latvian government approved a 2011 budget plan that includes tax increases and expenditure cuts and plans to submit it to parliament tomorrow, the Leta newswire reported.

Total revenue is planned at 5.1 billion lati ($9.6 billion), with spending at 5.7 billion lati, the Riga-based newswire reported, putting the deficit at 5.5 percent of gross domestic product, Leta reported, citing Finance Minister Andris Vilks. The budget may undergo changes in parliament, the newswire said.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor for this story: Willy Morris at wmorris@bloomberg.net

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