Compared to Q4 2019, gross domestic product (GDP) decreased by 1.4%, according to seasonally and calendar non-adjusted data in Q4 2020. According to provisional estimations, the GDP was affected by output rise in producing sectors of 3.7%. In services sectors there was a drop of 3.2%, according to the flash estimate from the Central Statistical…
Teachers, assistant teachers and nannies of pre-school education institutions and special education institutions will be paid single-time benefit for work performed during Covid-19 pandemic, as reported by the Education and Science Ministry. The government has allocated EUR 6.3 million from the state budget program for emergencies. The total size of the single-time benefit per hourly…
In 2020, Latvia’s State Environment Service (VVD) performed a total of 4,665 fishing inspections within Latvia’s internal waters, VVD reports. VVD inspected a total of 8,495 bodies of water in the country. In spite of the country’s adopted measures adopted to limit the spread of Covid-19, the number of inspections performed in this area last…
According to a study by Oxford Research Baltics, the losses the aviation industry suffered in 2020 compose 19.4% of the total expected GDP decline in Latvia. However, the total influence, including indirect and induced effect, reaches 43% of the total GDP decline, as reported by Latvian Aviation Association. Estimates form Oxford Research Baltics showed that…
On January 25, Japanese credit rating agency R&I maintained Latvia’s credit rating at A-level with a stable future outlook, the State Treasury reported. In spite of the negative effect from Covid-19 pandemic, which caused a massive decline for Latvia’s economy in 2020, the agency claims the framework of economic growth is not affected and it…
Looking at the budget, Riga City Council Finance and Administrative Affairs Committee supported increasing wages for the city council chairman, vice-chairmen, heads of committees and deputies instead of freezing the wage increase process similarly to other municipalities and state institutions. The proposal to freeze the increase of wages was suggested by members of Harmony political…
On January 21, Latvia’s Cabinet of Ministers decided to allocate EUR 600,000 from the state budget for emergencies to support non-government organizations (NGOs) to compensate for the negative effect of Covid-19 crisis in 2021, as reported by Culture Ministry. Because of the spread of the pandemic, restrictions put in place by the government continue causing…