Looking at the perspectives for development of Latvia’s economy, Latvian Chamber for Commerce and Industry (LTRK) does not approve of switching to a four-day work week, according to LTRK representatives. The organisation notes that if people want to live in a wealthy country, there are only two options – work more or work more productively.…
On July 1, onward JSC Latvijas Gaze plans to increase natural gas tariffs for households by between 65.6% and 89.9% depending on consumption, according to the entry in the Latvian Herald. For households that consume up to 250 cubic meters a year, the differentiated end tariff with VAT and excise tax will increase by 65.7%,…
In May, Riga International Airport serviced 474,000 passengers or 66% of the pre-pandemic number, according to data available about the airport’s operations. Since the start of the year the airport has serviced 1.67 million passengers. The percentage of direct passengers was 84%, whereas the percentage of transit passengers was 16%. A similar situation for direct…
Even if the situation becomes dire, there will be enough gas for households, Latvian Prime Minister Krisjanis Karins has saod. Looking at the price rise for most goods, fuel included, Karins stressed that as long as Russia continued warr in Ukraine the global economy would remain fractured. The PM said the situation in which there…
To reduce patient fees for healthcare services in Latvia, which are some of the highest among EU member states, the Ministry of Health has prepared and submitted for a public discussion a conceptual report on financial accessibility of medicines, the ministry reports. One of the proposals is reducing VAT rate from 21% to 5% in…
Latvia’s economy has done well to weather the crisis caused by Covid-19. However, Russia’s invasion of Ukraine has worsened recovery perspectives, as mentioned in European Commission’s 2022 report about Latvia. According to the European Commission, the effect of the crisis on Latvia’s economy was lower than the average in the European Union. Its recovery was…
On June 2, the Saeima conceptually supported amendments to the Law on Gambling and Lotteries that provided for restricting gambling restrictions. Amendments provide for prohibiting persons younger than 21 years from gambling. Currently persons younger than 18 years are not allowed to gamble. Amendments were initiated to protect residents who had yet to form an…