Valka municipality must take further budget-tightening measures

Now the cash-strapped municipality will have to prepare a balanced 2027 budget draft and a financial stability measures plan, as well as regularly report on the implementation of the State Audit Office's recommendations.

In turn, the Ministry of Finance (FM) is preparing a report to the Cabinet of Ministers, which will make the final decision on the initiation of the stabilization process and the granting of the loan.

"The commission concluded that the previous expenditure...