The Ministry of Finance is preparing a national macroeconomic development scenario and the tax revenue forecast to be approved by the Cabinet of Ministers.

Sector Ministry is preparing its budget requests for the industry, in addition to requests for priority actions, they are compiled and submitted to the Ministry of Finance Ministers of the Cabinet.

The Cabinet accepts the macroeconomic development scenario, the tax revenue forecasts, budget priorities, the Ministry of expenditure ceiling for the coming year. All the ministry budget requests and budget priorities are applied to the Cabinet of Ministers discussed and a decision on the funding allocation is taken to the Cabinet of Ministers. The Cabinet also accepts the Law on the State budget for the project and submit it to Parliament.

The Saeima examine the state budget bill in two readings and decide on both the revenue side, both on the expenditure side - the legislators have the right to modify any provision MK drafted the state budget bill.

Information taken www.fm.gov.lv