Under current conditions state debt maintenance costs may increase slightly, economist of the Bank of Latvia Karlis Vilerts has said at a meeting of Saeima’s Sustainable Development Committee. Although the interest rates remain very low, the high inflation is expected to contribute to a gradual rise of interest rates and, as a result, a rise…
The ruling coalition in Latvia is in agreement that the country should shut down supplies of natural gas from Russia, said Latvian PM Krisjanis Karins after a meeting of coalition parties on April 4. The PM stressed that gas supply-wise Latvia would be independent from Russia, and this would be accomplished by resolving related issues,…
Latvian Medical Association (LMA) has received applications from 60 Ukrainian doctors, as confirmed by LMA public relations official Evija Ansonska. The majority of applications were received from dentists – 15 people from Ukraine have expressed an interest in working in Latvia, followed by gynaecologists and obstetricians, ophthalmologists, paediatricians and anaesthesiologists. LMA provides support in the…
Due to the drop in freight, Latvian Railway (LDz) could fire approximately 600 more employees, the Latvian Minister of Transport Talis Linkaits said on March 31. “The initial estimate suggests 600 more employees could be laid off,” said the minister, adding that LDz had been ordered to prepare the best-case and worst-case scenarios and an…
On March 29, Latvia’s government approved the gradual increase of the defense budget to 2.5% of GDP in the next three years. The passed amendments to the Law on Financing National Defense provide for increasing the defense budget to no less than 2.25% of GDP in 2023. In 2024, the defense budget is planned to…
The ruling coalition in Latvia has decided to discontinue issuing residence permits in exchange for purchase of real estate property and other investments, said Latvian PM Krisjanis Karins after a meeting of coalition parties on March 28. Karins stressed that the coalition had decided to discontinue this “golden visa” program, which allowed people to acquire…
Last year the average hourly labour costs in Latvia were EUR 11.1, significantly below the average levels in the EU and Eurozone, according to data published by Eurostat on March 28. According to this data, labour costs in the economy, except fir agriculture and state administration, were below Latvia’s in Bulgaria (EUR 7 per hour),…