2023 was a financially successful year for RSU

In 2023, Riga Stradiņš University (RSU) finished the year with successful financial results. Revenue exceeded EUR 100 million for the second consecutive year, reaching EUR 106.2 million last year. Compared to 2022, revenue increased by 4.8%, and the University’s turnover has doubled since 2017.

The success of our financial performance is based on targeted daily work, supported by objective and realistic forecasts. Our achievements ensure the future development of RSU through the implementation of the latest innovations in study, scientific and administrative processes.

Prof. Aigars Pētersons, RSU rector

Our growing revenue has provided opportunities to increase targeted investments, which amounted to EUR 100.1 million last year and were 4.5% higher than in the previous year.

Key areas of expenditure are staff salaries, which increased by €4.3 million or 11% overall last year, and funding for research. RSU finances its scientific activities from its own revenue, as state funding for science is very limited. The basic state science funding for RSU as a research university was equivalent to the university’s total annual expenditure on utilities last year - EUR 2.6 million.

The approved budget for 2024 foresees further financial growth. Important expenditure priorities for this year are the development of research and infrastructure, as well as a review of staff salaries. RSU plans to continue developing existing and new internationally competitive study programmes and courses, ensuring their successful and efficient offer in Latvian and foreign markets.

The approved budget for 2024 foresees continued financial growth. Important spending priorities for this year are the development of science and infrastructure, as well as the review of staff salaries. RSU plans to further develop existing and new internationally competitive study programmes and courses to ensure that they reach Latvian and foreign markets successfully and efficiently.