The Latvian national airline airBaltic and Riga International Airport have signed a land lease to construct a new cargo hangar Baltic Cargo Hub within the airport’s territory. This hub is planned to become the biggest freight-processing center in the Baltic region, as reported by the airline. Current plans suggest the total area of Baltic Cargo…
In 2020, general government budget deficit accounted for EUR 1.3 billion or 4.5% of the Gross Domestic Product (GDP) and general government consolidated gross debt amounted to EUR 12.7 billion or 43.5% of the GDP. Under the impact of Covid-19 pandemic in 2020 general government revenues, compared to 2019, reduced by 0.4% and comprised EUR…
The amount of cash in circulation in Latvia has leveled out as a result of borders becoming closed following the start of Covid-19 pandemic, as reported by the Financial Intelligence Unit (FID) manager Ilze Znotina. “We believe it is related to large amounts of cash being carried over the border. We have informed the State…
Because of Covid-19 crisis there are sometimes major price differences for the same goods in different shops in Latvia, says Agricultural Market Promotion Centre (LTVC) manager Inguna Gulbe. “Covid-19 has polarized the population in Latvia even more. The rich and the poor are even more far-apart. The gap has expanded uncontrollably. Previously Latvia’s political stage…
Latvian parliament decided to reject amendments to the Law on Gambling and Lotteries. The proposed amendments would have been used to limit gambling in the country. These amendments were developed by members of the New Conservative Party and KPV LV. Saeima member Juris Jurass urged other members of the parliament to support this legislative draft,…
Members of the Saeima’s Economic, Agricultural, Environmental and Regional Policy Committee approved in the first reading on April 14 the legislative draft on products containing plastic. This legislative draft provides for banning certain plastic products starting from July 3 and developing measures to reduce their consumption. The objective is preventing and reducing the impact of…
In January-March, the Freeport of Riga (Latvia) handled 5.39 million tons of cargo, down by 15.3% YoY. According to the port’s statistics, handing of grain increased by 42.6%, to 832,700 tons, ore – by 42.9%, to 199.600 tons, wood pellets – by 9.3%, to 588,700 tons, sawn timber – over 2-fold, to 116,700 tons, and…