Both due to the surge of the cost of construction materials and the war in Ukraine, construction company Merks has projects in which it has major difficulties to progress within the limits of previous costs detailed in contracts. All this causes major losses, says Merks board chairman Andris Bismeistars. He explained that last year there…
Political parties forming the government have conceptually agreed to initiate construction of a liquefied gas terminal (LNG) in Latvia, Prime Minister Krisjanis Karins has said at a press conference after a meeting of coalition parties. The PM said the Ministry of Economics was ordered to work with potential investors to assess who would build the…
Latvian Ministry of Environment Protection and Regional Development (VARAM) has prepared impossible conditions for residents who want to receive state aid to afford installation of a pellet boiler and other equipment powered by renewable energy resources in households. Every owner of a private house is eligible to receive up to EUR 3 400 from the…
The latest data of the Central Statistical Bureau showed that in March, compared to March 2021, the average level of consumer prices increased by 11.5%. Compared to March 2021, the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, goods…
Compared to February, consumer prices in Latvia might have increased by 2.8-3% in March. This means that compared to March 2021 inflation in the country might have reached 11-11.2% in March 2022, according to bank analysts. Swedbank economist Laura Orleane predicted that in March consumer prices might have increased by 3% when compared to February.…
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,…