Latvia expects to borrow €4.3 billion next year

Latvia’s total borrowing requirement on financial markets is estimated at €4.3 billion next year, the Latvian Treasury told ERR.

The Treasury has borrowed €2.7 billion since the start of this year and plans to borrow a further €1 billion by year-end.

The funds are needed to refinance existing debt, cover the projected government budget deficit and provide state loans.

Estonia’s debt is set to rise by €2.3 billion next year, according to the draft state budget.