It is expected for inflation in Latvia to remain at 7.5-8% throughout the entire first half-year of 2022. This will be dictated mostly due to the energy and food product price climb, as reported by the Ministry of Finance. In the second half of the year, inflation will gradually decrease, the ministry predicts. The latest…
The influence of the price of natural gas on consumption may be evaluated after some time, says gas transmission system operator Gaso chairman of the board Ilze Petersone-Godmane. She said currently there was information both about multiple legal persons considering restricting production and how residents were trying to save money and reduce costs. State support…
Riga International Airport has plans to invest more than EUR 247 million into development until 2027, reach a number of 9 million passengers serviced, as well as issue bonds, according to the airport’s new strategy Runway 2027, as reported by the airport’s representatives. The airport has reviewed and outlined its goals, vision and mission. New…
In recent months a very dangerous trend has been observed with Latvia’s dairy industry. Since September 2021 there has been a clear difference between the highest and lowest milk procurement price for dairy farmers and milk producers, as reported by the chairman of the board of Association of Agricultural Statutory Societies Kaspars Melnis. With reference…
In the money laundering prevention field banks in Latvia have done a lot, which inspires confidence that the country’s financial system is no longer used for money laundering purposes, says the chief of Finance and Capital Market Commission (FKTK) Santa Purgaile. “In recent years we have worked and have done a lot in this field.…
In January, Riga International Airport serviced 246,000 passengers or almost five times more than a year prior, according to the airport’s operational data on the airport’s results for the first month of the year. Two of the biggest passenger carriers in January were Latvia’s national airline airBaltic, which carried 49.9% or nearly 122,000 passengers to…
The bank business model change process is not over in Latvia, says the chairperson of Latvian Finance and Capital Market Commission (FKTK) Santa Purgaile. She said several years ago it became clear a number of banks in Latvia would need to transform, change their business model and strategy. It was also clear not all banks…