Republic of Latvia Cabinet Regulation No. 228 Adopted 29 April 2014

Regulations Regarding the Methodology for the Calculation of the State Debt Service Equalised Expenditure

Issued pursuant to
Section 18, Paragraph seven
of the Fiscal Discipline Law

1. The Regulation prescribes the methodology for the calculation of the expenditure for service of that part of the State debt which is within the competence of the Treasury.

2. Within the meaning of this Regulation the expenditure for service of that part of the State debt which is within the competence of the Treasury, are the percentage expenditure provided for in Sub-programme 31.02.00 "State Debt Management" of the State basic budget of the Ministry of Finance.

3. Upon developing a medium-term budget framework law in N year, the State debt service equalised expenditure for n+1, n+2, and n+3 year shall be calculated, using the following formula:

yi=	xi-2 + xi-1 + xi + xi+1 + xi+2	where
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x - the actual State debt service equalised expenditure of the relevant year within the competence of the Treasury (if data regarding the actual execution in this period are available) or planned expenditure;

y - equalised expenditure of the relevant year for service of that part of the State debt which is within the competence of the Treasury;

i - relevant years n+1, n+2, and n+3.

Acting for the Prime Minister -
Minister for Transport Anrijs Matīss

Minister for Finance Andris Vilks

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Translation © 2018 Valsts valodas centrs (State Language Centre)