Riga, Jan 13 (LETA) - The Riga City Council's budget revenues this year are planned to be EUR 37.6 million higher than last year, according to the draft municipal budget to be considered by the council's finance and administration committee on Thursday.

Total revenue this year is planned at EUR 1.508 billion, compared with EUR 1.470 billion last year.

Expenditure, on the other hand, is planned at EUR 1.702 billion, almost EUR 194 million more than revenue.

This year, tax revenue for the municipality is planned at just under EUR 1.056 billion. Of this, personal income tax revenue is planned at EUR 934 million. Property tax revenue is planned at EUR 119 million.

Almost EUR 352 million more will be received in state budget transfers, including a grant of almost EUR 63 million for the implementation of projects co-financed by the European Union.

Riga City Council's contributions to the Local Government Equalization Fund this year are planned at more than EUR 137 million, while contingency spending is planned at EUR 7.7 million.