With increased investments, Latvian farmers have managed to increase efficiency in the industry, a bank survey showed. According to the results of a survey performed by Swedbank, in 2017 farmers plan to invest money in grain dryers and towers, in updating machinery and buying agricultural land. “It is positive that farmers recognize that new technological…
Compared to May 2016, total retail trade turnover rose by 3.8% in May 2017. Turnover of retail trade in food products increased by 2.4% and turnover of retail trade in non-food products grew by 4.8%. The most significant growth in turnover in the non-food product group was recorded in retail sale of information and communication…
In 2016 the average forest regeneration costs, depending on the forest land quality group, varied between 551 and 600 euros per hectare. In 2015, these costs constituted 620-687 EUR/ha. The forest regeneration costs include expenditure on soil preparation, small sapling expenses and planting costs, according to data from the Central Statistical Bureau of Latvia. In…
In relation to the possibility of purchasing a new home, Latvian residents view EUR 100,000 as the “pain threshold”. The critical border for new project apartments is 1,300 EUR/square meter. For standard apartments it is 1,000 EUR/square meter. For private homes it is 1,600 EUR/square meter, according to results of a study by PrivatBank. Lately…
Saeima of the Republic of Latvia will soon ratify Rail Baltica agreement, which is expected to allow passenger trains to travel at a speed of 240 km/h instead of 120 km/h. Higher travel speed will also ensure cargoes from Tallinn reach Poland within two days. The objective of this agreement is ensuring effective and quick…
Compared to April, the level of producer prices in Latvian industry grew by 0.4% in May. The prices of products sold on the domestic market increased by 0.3%, whereas the prices of exported products grew by 0.5%. The prices of products exported to euro area countries grew by 0.8% and of products exported to non-euro…
Saeima’s Budget and Finance Commission has expressed unanimous conceptual support for amendments to the Law on Taxes and Duties. These amendments provide for the introduction of electronic working time tracking system in construction, Saeima’s press-service reported. Finance Minister Dana Reizniece-Ozola told members of the Saeima that a solution for electronic working time tracking was achieved…