On October 21, the Saeima’s Budget and Finance (Tax) Committee reviewed the expenditure request submitted by the Ministry of Economics (MoE) for the 2026 state budget. Next year’s budget sets goals focused on attracting investment, boosting exports, developing tourism, reducing bureaucracy, and increasing productivity.
During the session, MoE Parliamentary Secretary Jurģis Miezainis and Acting State Secretary, Deputy State Secretary Raivis Bremšmits presented the committee with the ministry’s planned expenditures, key objectives, and support measures for both businesses and citizens.
The committee also discussed planned austerity measures, which were positively received by its members.
On October 14, the government approved the draft law for the 2026 state budget. In its budget proposal, the MoE requested expenditures of EUR 200.5 million. The majority of the budget—EUR 170.5 million—is allocated to various support measures aimed at enhancing business competitiveness and economic growth, including attracting investment, supporting innovation, and boosting companies’ export capacity.
During the budget preparation process, the MoE managed to reduce its 2026 expenditures by EUR 9.5 million while maintaining support programs for businesses.
The first reading of the budget bill is scheduled for November 5, with the final reading planned for December 3.