LATVIA – SPORTS
The state has supported the allocation of 2.8 million euros to the Ministry of Education and Science so that the Latvian Basketball Association, the Latvian Volleyball Federation, the Latvian Automobile Federation and the Latvian Federation of Motor Sport could cover the necessary costs for the organisation of international sports events and the purchase of licences by the end of this year.
The State Budget Act 2023 will not enter into force as of 1 January 2023 and the technical budget provides only 242,415 euros for the organisation of international sports events of national importance. This amount is insufficient to cover compulsory licences and other payments related to the organisation of planned sports events at the beginning of 2023. Therefore, it is necessary to allocate state budget funds for sports events in 2022, ensuring that the costs related to the organisation of competitions are covered by the end of 2022 and that the state budget of 2023 is written off.
From the contingency funds, EUR 1 550 000 was allocated to the Latvian Basketball Association to cover costs related to the organisation of the FIBA EuroBasket 2025 European Men’s Basketball Championship in Latvia for both the second and third payment for the licence purchase and the information technology support for the championship.
The Latvian Volleyball Federation needs EUR 413,000 to purchase a licence for the FIBV World Championship 2023 Beach Pro Tour Challenge. The Latvian Automobile Federation will receive EUR 400,000 to cover costs related to licensing for the organization of the FIA European Rally Championship 2023. The Latvian Motorsport Federation received EUR 375,000 to purchase a licence to organise a round of the FIM Motocross World Championship 2023 in the MXGP class.
On the other hand, 65,433 euro will be transferred to the Latvian Basketball Union to support the Ukrainian Basketball Federation and cover the expenses in 2022 related to the preparation of the Ukrainian national team and participation in the 2023 World Cup qualifying tournament in February 2023.
The issue of international events of state importance in Latvia planned for 2023, including covering expenses in 2023 and planned for 2024 and 2025, was considered at the meeting of the Latvian National Sports Council on October 20, 2022. The issue of supporting the Ukrainian Basketball Federation was also considered at several meetings of the Latvian National Sports Council and the Cabinet of Ministers supporting the allocation of state budget funds.
A draft regulation on the allocation of financial resources from the state budget under the ‘Contingency Funds‘ programme was approved by the government today, 20 December 2022.
Related posts
The Netherlands has approved euthanasia for children under 12
NETHERLANDS – LEGISLATION The Dutch government has announced an extension of existing euthanasia laws for terminally ill children aged one …
Latvia reintroduces compulsory military conscription
LATVIA – LEGISLATION On Wednesday, April 5, the Latvian Saeima adopted the law on compulsory military service in its third …
Latvia plans to ban the sale of tobacco products to under 20s
LATVIA – LEGISLATION On Thursday, March 23, the Latvian Saeima approved in second reading amendments to the Law on Circulation …
Lithuania has come up with an idea to tax the excess profits of banks and use the money for defence
LITHUANIA – LEGISLATION Lithuania’s Finance Ministry on Thursday proposed a temporary tax on bank profits to raise about 510 million …