On December 9, the Saeima passed in the first reading amendments to the Law on Excise Tax. The goal of these amendments is reducing excise tax for natural gas, improving accessibility of gas refueling stations for vehicles powered by gas, as well as developing gas infrastructure. The goal of amendments to the Law on Excise…
Compared to November 2020, the average level of consumer prices increased by 7.5% in November 2021. The greatest pressure on the average price level changes in November 2021 compared to November 2020 was put by the rise in prices of goods and services related to housing, goods and services related to transport, prices of food…
On December 6, EU Employment, Social Policy, Health and Consumer Affairs Council passed a historic agreement on the European Commission’s proposed directive on adequate pay in the EU, as reported by Latvian Ministry of Welfare. Considering the directive’s proposed mechanism for calculation of minimal wage, it may have to increase from the current EUR 500…
According to information from Lursoft, currently there is EUR 18.7 million of investments from Belarus registered in base capital of Latvian enterprises. In total, there are 727 investors from Belarus registered in Latvia. These people have invested funds into base capital of 718 businesses. The December 2 regulation issued by the Council of Europe regarding…
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…