In January-November, the Freeport of Riga handled 21.82 million tons of cargo, down by 27.4% YoY. According to the port’s statistics, handing of grain increased by 34.5%, to 2.57 million tons, coal handling fell by 72.9%, to 2.6 million tons, chemicals – by 15.9%, to 1.33 million tons, ore grew by 14.3%, to 607,200 tons,…
President Egils Levits promulgated the Law on State Budget for 2021, the Law on Medium-Term Budget Content for 2021, 2022 and 2033, as well as laws associated with the budget for 2021. Still, the president also offered a detailed assessment of the content of the state budget and the procedure under which the law was…
In October, the foreign trade turnover of Latvia amounted to EUR 2.7 billion, which at current prices was 3.9% larger than a year ago, of which the exports value of goods was 7.7% higher and imports value of goods – 0.6% higher. Latvia exported goods in the amount of EUR 1.31 billion and imported –…
At the end of November, the registered level of unemployment in Latvia was 7.4% of economically active population, which was as much as the month prior, according to information from the State Employment Agency (NVA). At the end of November, NVA had 67,518 unemployed people registered, up by 394 people MoM, when 67,124 unemployed people…
On December 1, the Organization for Economic Cooperation and Development (OECD) published an outlook for Latvia’s GDP decline, reducing it to 4.3%. In its June outlook OECD expected Latvia’s economic decline to be at 8.1%. Economic growth outlook for 2021 is reduced from 6.3% to 2.4%. In 2022, OECD expects Latvia’s economy to grow by…
Riga City Council’s budget for 2021 may be EUR 17.2 million short. The reduction may be even larger, said chairman of Riga City Council Martins Stakis has declared. Stakis said work on the municipality’s budget for 2021 continued, but it was already clear what the level of consolidation would be and which departments of Riga…
On November 24, Latvia’s Saeima approved amendments to the Value Added Tax Law that provide for simplifying VAT usage and reducing VAT to 5% for fresh fruits, berries and vegetables in the final reading. Finance Ministry previously explained that the goal of amendments was clarifying VAT regulations to simplify application of VAT, reduce administrative burden…