Latvian Association of Local and Regional Governments (LLPA) is concerned about the rapid surge of electricity prices and its effect on municipal budgets. This means continued provision of municipal functions may be at risk, the association warns. Estimates performed by the cities for 2022 suggest they will require several million euros from the state budget…
In Q3, the average monthly gross salary in the country for full-time work was EUR 1,280. Compared to Q3 2020, the average monthly salary increased by EUR 121 or by 10.4 %, but the hourly wages before taxes – by 4.4% (from EUR 8.09 to EUR 8.44). The average monthly gross salary increased by 3.4%…
In Q3, compared to Q3 2020, gross domestic product (GDP) rose by 5.1%, according to seasonally and calendar non-adjusted data at constant prices. GDP at current prices was EUR 8.9 billion. As compared to the previous quarter, GDP went up by 0.6%, according to data compiled by the Central Statistical Bureau. In Q3, compared to…
Compared to October 2020, total retail trade turnover decreased by 2.3% in October. Turnover of retail trade in food products grew by 0.1%. Retail trade in non-food products (except for retail sale of automotive fuel) decreased by 5.7%, but turnover of retail sale of automotive fuel – increased by 1.4%. Compared to October 2020, the…
On November 25, the Operational Management Group (OVG) reached a conceptual agreement to permit Christmas markets in spite of Covid-19 pandemic in Latvia, as confirmed by the Ministry of Economics. Although discussions between the Ministry of Economics and Ministry of Health continue on this topic, it is clear Christmas markets will be allowed to work…
The total worth of the businesses included on the Top 101 list reached EUR 22.5 billion in 2021. Compared to last year’s list, the total value has increased 37%. According to Nasdaq Riga, to be put on the Top 101 list a company’s value needs to be EUR 72.88 million when compared to EUR 49.39…
In October, passenger turnover at Riga International Airport comprised 351 thousand passengers, up 3.9-fold YoY and by 5.1% MoM. This is the second largest number of passengers at airport since the beginning of pandemic in March 2020. However, compared to October 2019 before the pandemic, when there were 705.2 thousand passengers, the drop comprises 50.2%,…