To improve the quality of gravel roads in Latvia, the company in charge of road maintenance VAS Latvijas Autocelu uzturetajs (LAU) performed grading of more than 111,000 km of gravel roads this year. Surface and pothole repairs have been performed in a total volume of 427,000 cubic meters, LAU reports. Grading efforts are the most…
Latvia’s gross domestic product may have declined by 4-4.7% in Q3 compared to the same period of 2019, according to bank analysts. Swedbank chief economist in Latvia Liva Zorgenfreija predicts Latvia’s GDP in Q3 may have declined by 4% YoY in Q3. At the same time, she mentioned that compared to Q2 Latvia’s economy might…
In January-September, with reduced economic activity, general tax revenue was EUR 573.7 million or 8% short of the plan, as reported by Finance Ministry. In the first nine months of 2020, consolidated budget revenue was EUR 22.7 million or 0.3% lower when compared to the same period of 2019, reaching EUR 8,418,400. General budget revenue…
The integration process involving the Finance and Capital Market Commission (FKTK) and the Bank of Latvia could be used as an excuse to reduce the independence of the central bank, said the governor of the bank Martins Kazaks. “We can see the merge process of FKTK and the Bank of Latvia is not simple. Certain…
The planned state budget financing for sports in Latvia may decline by EUR 5.96 million, as detailed in the 2021 budget plan. The plan notes that this year’s funding is EUR 38.8 million. For next year, however, the funding for this sector is at EUR 32.8 million. For example, next year none of the national…
The overload of healthcare workers in Latvia because of the spread of COVID-19 is obvious, the chairman of Latvian Hospital Association (LHA) Jevgenijs Kalejs says. Kalejs claims the rapid spread of COVID-19 has caused workload to increase for all healthcare workers, adding that the state has not considered full remuneration of increased workload. The representatives…
Latvia’s power transmission system operator AS Augstsprieguma tikls (AST) plans to invest EUR 405 million in development in a ten-year period from 2021 to 2030, according to the development plan approved by the Public Utilities Commission (SPRK). As reported by the company, the most considerable expenditures are associated with efforts to increase the transmission network’s…