If budget distribution does not prove enough to support residents and compensate inflation growth, the state may borrow money from foreign exchange markets, says Latvian Prime Minister Krisjanis Karins after meeting with President Egils Levits on June 15. The PM said he previously issued an order to the Ministry of Welfare to work with other…
41.2% of 820.5 thousand employed persons aged 25 and over in Latvia had higher education at the beginning of 2021. Since the Population and Housing Census 2011 the indicator has gone up by 5.2%. Last year, one fourth (24.7%) of the employed persons had acquired master’s degree, 12.7% had bachelor’s degree, 3.1% college education and…
“If Europe ceases using Russian gas or Russia stops supplying gas to Europe and/or Latvia fails to secure alternatives to Russian gas, the gas price for households will increase again next year,” Swedbank senior acting economist in Latvia Agnese Buceniece has said. “But if these scenarios do not come true, we can expect the gas…
Looking at the perspectives for development of Latvia’s economy, Latvian Chamber for Commerce and Industry (LTRK) does not approve of switching to a four-day work week, according to LTRK representatives. The organisation notes that if people want to live in a wealthy country, there are only two options – work more or work more productively.…
On July 1, onward JSC Latvijas Gaze plans to increase natural gas tariffs for households by between 65.6% and 89.9% depending on consumption, according to the entry in the Latvian Herald. For households that consume up to 250 cubic meters a year, the differentiated end tariff with VAT and excise tax will increase by 65.7%,…
In May, Riga International Airport serviced 474,000 passengers or 66% of the pre-pandemic number, according to data available about the airport’s operations. Since the start of the year the airport has serviced 1.67 million passengers. The percentage of direct passengers was 84%, whereas the percentage of transit passengers was 16%. A similar situation for direct…
Even if the situation becomes dire, there will be enough gas for households, Latvian Prime Minister Krisjanis Karins has saod. Looking at the price rise for most goods, fuel included, Karins stressed that as long as Russia continued warr in Ukraine the global economy would remain fractured. The PM said the situation in which there…