The Ministry of Economy (ME) requests an increase in allocations for 2022 equal to 2,097 million euros for the co-financing of the state budget for the shooting of foreign films in Latvia, it is clear from the information report of the ME, which was conceptually supported by the government on Tuesday.
The ME states that film shooting is a dynamic process and the chances of project candidates to implement the project are linked to several factors, among which the essential condition for the possibility of implementing the project is the attraction of funding, as well as the epidemiological situation in Latvia and the world. For the performers of the projects included in the reserve list, it is important to conclude co-financing agreements as soon as possible, because the summer and autumn seasons are important for filming.
In the event that it is not possible to conclude in time agreements on the co-financing of the state budget for the filming of foreign films in Latvia, the projects may not take place or their creators may decide to change the location of the filming of the films, therefore significant financial resources are not they will end up in the national economy of Latvia.
Therefore, the Ministry of the Interior is expected to prepare a draft decree to increase the 2022 allocation by an amount of 2,097 million euros for the co-financing of the state budget for the shooting of foreign films in Latvia.
The Ministry of the Interior indicates that the increase in the appropriation for co-financing the state budget for the shooting of foreign films is possible taking into account the expected increase in tax revenues.
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