On February 5, Minister of Defence Andris Spruds participated in the signing of a memorandum of understanding on establishing a specialised anti-tank mine and key component production facility in Latvia. The memorandum was signed by State Defence Corporation Ltd, represented by board member Ingrida Kirse, and the German defence industry company Dynamit Nobel Defence GmbH,…
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…