European financial aid will significantly decrease in the coming years – if it is planned at 719 million euros for 2026, it will only be 232.4 million in 2028.
This is stated in the information prepared by the Ministry of Finance for the Saeima Budget and Finance (Tax) Commission. Despite the fact that the source of vital funding is rapidly dwindling, officials from the Latvian Ministry of Finance remain optimistic and promise to ensure "the creation of a balanced budget for state development," "support for the sustainability of the tax system," and "targeted and stable management of state resources."
These are words. But here are the figures – the total amount of foreign financial grants for Latvia in 2028 will be three times less than in the relatively "fat" year of 2026.
At the same time, Latvia's own contributions will increase – starting next year, the level of 366.9 million euros will reach 493 million in 2028 (+34%).
Consequently, in the medium term, our republic will transform from a recipient of financial aid into a donor. If in 2025 the difference between inflows into Latvia and what it contributes to the EU pot is 141.3 million in our favor, then in 2028 it will be 260.6 million in favor of the EU!
