Latvia: banks well prepared for COVID-19 crisis

Banks in Latvia are well prepared to overcome the COVID-19 crisis, chairperson of the Finance and Capital Market Commission (FKTK) Santa Purgaile has said. “Banks are in financially good health to overcome this crisis,” said the head of FKTK, adding that banks were strong and their liquidity was good. At the same time, Purgaile admitted…

Latvia: border with Russia to be opened for energy imports on November 5, 2020

On November 5, Latvian-Russian border will be opened for energy imports from Russia to Baltic States,the transmission system’s operator Augstsprieguma tikls (AST) reports. This decision was made, considering that on November 3, Astravyets NPP became operational in Belarus and Lithuania decided to close the Belarusian-Lithuanian border for imports of energy from third countries to Baltic…

Latvia: machinery production up in September 2020

Compared to September 2019, manufacturing production output according to calendar adjusted data at constant prices decreased by 0.6% in September 2020. Production output decreased in electricity and gas supply by 22.7%, with a significant decrease in the volume of electricity produced in combined heat and power plants (CHP) and gas supply to consumers. In turn,…