At the end of September, the level of registered unemployment in Latvia drop was 7.7% of economically active population, down by 0.5% MoM, according to information from the State Employment Agency (NVA). At the end of September, there were 70,306 unemployed persons registered with NVA, down by 4,707 persons. The most rapid unemployment decline was…
Compared to September 2019, the average level of consumer prices decreased by 0.3% in September. Prices of goods fell by 1.1%, while prices of services rose by 1.7%. Compared to September 2019, the average level of consumer prices was mainly influenced by the drop in prices of goods and services related to housing, goods and…
It will take two years for Latvia’s economy to recover, said the newly elected member of the council of the Bank of Latvia Andris Vilks on October 5. “We should have had a V-type development. This means a relatively deep and quick fall and a very fast recovery. It would have happened, but what we…
Latvia’s government has decided to support the proposal to keep VAT at 5% for fruits, berries and vegetables until December 31, 2023. At the same time, the government also decided to outline achievable indexes for results, Finance Ministry reported. This is support measure is intended to promote agriculture and gardening sectors’ development, reduce grey economy,…
Compared to August 2019, total retail trade turnover rose by 4.4% in August 2020. Turnover of retail trade in food products grew by 4.1%. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 2%, while turnover of retail sale of automotive fuel – by 11.3%, according to data from the…
The proposed Latvian state budget for 2021 is sustainable, yet it lacks ambition, said Latvijas Banka’ President Martins Kazaks. “If I look at this story in general, I’m missing ambition”, evaluated the President of the Latvian central bank. Kazaks noted that, for example, the role of Riga in the Latvian economy had not been appreciated.…
The parties of the Latvian government have reached an agreement on the general framework of the 2021 state budget and the planned tax reform. “After several months of debates, we have agreed on the framework of the 2021 budget,” Prime Minister Krisjanis Karins said on September 21. Karins elaborated that the budget of the next…