The credit portfolio of Latvian banking sector declined by 3.9% or by EUR 523.785 million YoY in 2020 and was EUR 12.948 billion, according to data compiled by the Finance Latvia Association. The credit portfolio of banks that are members of the association has declined by 1% or by EUR 123.218 million, composing EUR 12.212…
Compared to 2019 under the impact of Covid-19, passenger traffic by all modes of transport fell significantly in 2020. Covid-19 pandemic and related movement restrictions determined drop of passenger traffic by all modes of transport, according to data composed by the Central Statistical Bureau of Latvia. In 2020, the number of passengers carried by land…
To reduce the spread of Covid-19, remote work may be proposed as compulsory during a state of emergency, as Latvia’s Prime Minister Krisjanis Karins has said. The prime minister said, referencing data reported by the Disease Prevention and Monitoring Centre, that coronavirus infections most often took place at work. “People feel safe in their respective…
On March 1, parties representing the ruling coalition in Latvia conceptually agreed on a single-time EUR 200-benefit for pensioners and invalids, as confirmed by Prime Minister Krisjanis Karins after the meeting of the Coalition Council. The PM explained that representatives of ruling parties agreed on allocation of the single-time benefit. Recently the government has also…
On March 1, the first day for submission of income declarations to the State Revenue Service (VID), more than 62,400 submitted their income declarations, as confirmed by VID director general Ieva Jaunzeme. “62 414 income declarations have been submitted so far. In 2020, the same amount was reached as of 10:00 a. m. on the…
State support to help overcome Covid-19 crisis should have been made wider as early as 2020, said Bank of Latvia council member Andris Vilks. “The biggest mistake Latvia committed last year was not providing sufficient support fast enough. The consequences of this are plain to see now. Covid-19 indexes are higher and people are unhappy,”…
The Bank of Latvia has reported that the country is nearing a very high budget deficit level. On February 23, participants of the meeting of the government and Crisis Management Council were presented with the situation with the state budget program for emergencies, as well as the country’s macro-economic situation in general. According to outlooks…