The Latvian Parliament approved the Law on the State Budget for 2014, the Law on Medium-Term Budget Framework for 2014–2016 and amendments to 37 budget-related laws on November 7, 2013.
Next year, Payments made from the Maintenance Guarantee Fund for a child up to 7 years of age will be EUR 71.14 (LVL 50) and for a child between 7 and 18 years of age this will be EUR 78.26 (LVL 55). The government plans to reduce social insurance fees by 1%, and increase benefits for dependants to EUR 165.
The minimum salary will be increased to EUR 320 (LVL 225), while the personal income tax rate will be kept at the current 24%. The non-taxable minimum of the personal income tax will be increased to EUR 75 (LVL 52.71) and the tax relief to guardians will be EUR 165 (LVL 115.96). The salaries of the public sector workers such as medical doctors, teachers, and people employed in the justice and interior sector, as well as social and cultural workers, will be increased.
