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),…
In January-February, the port of Riga handled 3.51 million tons of cargo, up by 2.5% YoY. According to the port’s statistics, grain-handling fell by 37.5%, to 351.6 thousand tons, oil products – – by 32%, to 292.7 thousand tons, metal scrap and metals – by 55.7%, to 22.6 thousand tons. Handling of chemical cargo rose…
The income of 21.7% of Latvian households has decreased in the last twelve months and for 18.5% households income has increased. Negative and positive changes with income of Latvian households were observed more clearly in cities these past twelve months – 20.2% of city-based households mentioned their income has increased (14.3% in the countryside), 23.2%…
Latvian Road Traffic Safety Directorate (CSDD) has decided to annul the registration and permit of website and mobile app service provider Yandex Taxi. It has also been decided to block Yandex Go mobile app, as confirmed by CSDD representative Zane Plone. She explained that this decision was made based on the fact that the service…