In Latvia, the government coalition has expressed support to holding lotteries of money prizes to people vaccinated against Covid-19 with the aim of motivating people to vaccinate. Health Minister Daniels Pavluts (For Development/For) announced the idea on July 5. “Lotteries or social motivation programs with the elements of a game and positive motivation are carried…
At the end of May, the nominal value of Latvian state debt was EUR 13.4 billion, up by EUR 909 million or by 7.3% from the end of 2020, according to information from the Ministry of Finance. The ministry explained that the increase of the state debt was dictated by the issue of ten-year euro…
Latvian ministries have submitted financing requests worth EUR 1.68 billion from the next year’s state budget, as reported by Ministry of Finance. The Ministry of Finance has compiled the financing requests submitted by ministries and state institutions for priorities. In total, ministries have submitted financing requests worth EUR 1.68 billion for the 2022 state budget.…
Banks in Latvia have implemented numerous changes to improve their internal control systems, as reported by the Finance and Capital Market Commission (FKTK). In 2020, FKTK performed 12 inspections in the field of money laundering and terrorism financing prevention. While in previous years most inspections concluded with administrative cases and penalties, in 2020 FKTK had…
European Bank for Reconstruction and Development (EBRD) has maintained Latvia’s GDP outlook for 2021 unchanged. The country’s economic growth is expected to be the most rapid among the Baltic States. The bank’s latest outlook estimates Latvia’s economic growth to reach 3.5% this year. Commenting on this year’s outlook, EBRD notes that the slow speed of…
This year Swedish ferry company Stena Line deployed two new, large and modern ferries on its route connecting Latvia’s Ventspils and Sweden’s Nynashamn, as confirmed by the company. The first of them – Stena Scandica – arrived in Ventspils on June 29. It is preparing for its first voyage, which will start on July 2.…
This year municipal company Riga Forests plans to participate in a youth employment program organized by the State Employment Agency (NVA). The company intends to offer summer jobs to 136 youngsters, as confirmed by Riga Forests. In June, July and August youngsters aged 15 to 19 years will be able to work in gardens and…