The beverage producer AS Amber Latvijas balzams had submitted an application to the Riga City Court seeking the initiation of a legal protection (restructuring) process, the company said on January 30 in a disclosure to the Nasdaq Riga stock exchange. The application has been filed in order to restructure the company’s financial obligations. The purpose…
Latvia is currently not considering a scenario of raising taxes, Finance Minister Arvils Aseradens (New Unity) has said. The minister stressed that Latvia’s public debt level remained moderate and that there was still room before reaching the Maastricht criterion ceiling of 60% of GDP. Aseradens also noted that the European Commission had approved Latvia’s budget…
Restaurants in Latvia are currently in a very difficult situation, says Janis Jenzis, head of the Latvian Restaurant Association (LRA). He noted that another Michelin-recommended restaurant, Barents, had announced its closure, which clearly showed that at the beginning of the year the catering industry and restaurants were facing serious hardship. Jenzis added that difficulties in…
Annual inflation in Latvia in December 2025 was higher than the average in the European Union (EU) and the euro area, according to data published on January 19 by the EU’s statistical office Eurostat. Annual inflation in Latvia stood at 3.4% in December 2025. Consumer prices increased in December 2025 in all EU member states.…
Since Russia’s invasion of Ukraine, the number of companies whose owners or ultimate beneficiaries have changed their declared citizenship from Russian or Belarusian has risen sharply. The most common new nationalities are Israeli, Latvian and that of Antigua and Barbuda, according to Latvian Radio. Experts cite two main reasons for the trend: an effort to…
Latvia spent approximately 0.3% of its gross domestic product (GDP) on military support for Ukraine last year, Foreign Minister Baiba Braze told journalists on January 8 following an inter-institutional meeting on the implementation of the Latvia-Ukraine security commitments agreement. She noted that Russia’s ongoing bombardments had severely affected Ukraine’s energy infrastructure. “It has not been…
Regional public transport passenger carriers in Latvia are once again considering organizing a protest over the revision of long-term contract prices, while the Road Transport Administration (ATD) says it is still assessing the legal options for making any changes to contracts. On January 7, the Latvian Passenger Carriers Association (LPCA/LPPA) met with Transport Minister Atis…