Latvia: requirement for purchase of land not discriminating towards EU citizens

The law that provides stricter language requirements for procurement of agriculture land is not discriminatory towards citizens of other European Union member states, says Latvian Agriculture Ministry, commenting on complaints submitted to EC center for setting conflicts Solvit by foreign businessmen in relation to the requirements imposed by Latvia on privatization of land. “According to…

Latvia: most residents to have access to fast transactions

Soon Latvian residents and businesses will be able to perform most transactions within seconds, Swedbank representatives promise. This will be made possible thanks to lightning-fast or electronic transaction system between European banks. Multiple Latvian banks intend to join this system. Swedbank predicts that Latvian residents will like this, seeing as how they have already gotten…

Latvia: men the most active Internet shoppers

Internet stores continue becoming more and more popular among residents. The number of transactions using Visa payment cards issued by PrivatBank has grown by 6.1% YoY in the first six months of 2017, according to data compiled by PrivatBank. January and March were the hottest months for Internet shopping in this year’s six-month period. The…

Latvia: butter price reaches its maximum

The price of butter in Latvia has reached its maximum, said Competition Council chairman Skaidrite Abrame. “Prices in Latvia have definitely reached the peak. Alternatives for imports of cheaper butter are being considered,” Abrama said, adding that butter in Estonia was at least 20-30% cheaper. Abrama also notes that prices for butter have grown considerably…

Latvia: pressure on cost increase to be enormous

Pressure on the increase of costs in the next several years will be enormous, and there are worries about the government’s ability to withstand that, said Fiscal Discipline Council’s member Andzs Ubelis. According to him, the government’s recently approved outlook on economic growth this year of 3.7% is realistic and satisfactory. Latvia’s economy is expected…

Latvia: situation with transit industry tragic

Baltic Association – Transport and Logisics President Inga Antane describes the situation with Latvia’s transit industry as tragic. Cargo volume decline has been continuing since 2012. Antane also mentions that, looking at the recent past, 2016 was one of the worst in Latvia’s transit history. It should be added that from April onward there was…

Latvia: businessmen to pay larger wages

The current market situation shows that Latvia should speed up its education reform and think about attracting additional human resources from other countries, said Latvian Finance Minister Dana Reizniece-Ozola. “We have a number of problems. We see unemployment is in decline, dropping to 7.2% in the past three years, whereas the number of employed people…

Latvia: electricity price difference with neighboring countries reduced

In recent years, Latvia has managed to reduce the electricity price difference with other Baltic neighboring countries, as reported by Enefit Chairman Janis Bethers. “Although Latvian households still pay the most for electricity, these expenses will continue declining. The price difference with Estonia, which historically has the lowest wholesale prices, has declined nearly 2-fold,” says…