Both Latvia’s Minister of Defense Artis Pabriks and Prime Minister Krisjanis Karins suggest gradually increasing the country’s defense budget to 2.5% of GDP. During the annual foreign affairs debates in the Saeima, Pabriks said that in addition to relying on Article 5 of NATO Treaty, Latvia should follow Finland’s example, develop its armed forces and…
In Estonia, the construction price index grew by 14.7% from the fourth quarter of 2020 to the respective period of 2021, while in 2021 as whole, compared to the average level of 2020, it increased at a slower pace, by 3%, official statistics showed. Statistics Estonia wrote in a press release earlier in January that…
On January 26, Riga City Council adopted the municipality’s new budget, outlining three priorities – social aid, wages and transport infrastructure. The meeting during which the city council reviewed the 2022 budget lasted for more than seven hours. More than five hours were spent discussing the municipal budget. Riga’s budget revenue is planned at EUR…
It will take at least two years and EUR 16 million to fix the security gaps along the Narva River, the Police and Boarder Guard Board (PPA) has said. Part of the Estonian-Russian border runs along the Narva River and there is a lack of surveillance equipment and border guards cannot react quickly enough to…
Asian countries will experience the energy crisis that may arise in Europe as a result of possible Russia’s invasion of Ukraine. “When you have an energy crisis in Europe, that means we have an energy crisis in Asia simultaneously. Because if Europe feels the necessity to buy more gas, they go to Qatar and they…
As of January 1, 11 banks provided loans for a total sum of UAH 7.35 billion under state guarantees on a portfolio basis, the Finance Ministry’s press service reported. “As part of the support for micro-, small- and medium-sized businesses in Ukraine through the instrument of state guarantees on a portfolio basis, as of January…
With increased threats to state security, it will be necessary to allocate an additional EUR 350 million towards defense, said Latvian Minister of Artis Pabriks. According to him, the Ministry of Defense has compiled of list of need it would like satisfied and plans the ministry would like to see executed more quickly. The minister…