Municipalities in Latvia will have the right to receive state budget loans to increase base capital of municipal companies if their turnover drops more than 50% because of COVID-19 crisis, as provided by amendments supported by the Cabinet of Ministers on April 9. Finance Ministry explains that for municipalities as capital shareholders to support companies…
LLC Rigas mikroautobusu satiksme (RMS) has decided to shut down shuttle bus services on all routes in Riga until the state of emergency in Latvia is over, as confirmed by RMS. To halt the spread of COVID-19 in Latvia, including through public transport, Latvia has established a number of restrictions and security measures. Since March…
From Q4 2019 onward the price of electricity has reduced, according to the latest market data from the Public Utilities Commission (SPRK). Prices benefit from warm weather and recovery of water reserves, which allows increasing the power production output at hydroelectric power stations. Last year’s lowest average monthly electricity price in Nord Pool exchange was…
Municipalities are urged to consider the option to abolish public transport discounts and benefits for certain groups to reduce the risk of people from risk groups getting infected, as well as to more accurately organize the flow of passengers, according to a Twitter post by the Transport Minister Talis Linkaits. Based on the minister’s order…
In the first two months of the Covid-19 pandemic its effect on the state budget has not yet been felt, as reported by the Finance Ministry. In the first two months of 2020 the general budget revenue was 0.6% higher when compared to the same period of 2019. Expenditures, on the other hand, increased by…
To limit the Covid-19 pandemic in Latvia it has been decided to close down gyms. Shopping centers will close their doors on weekends, Prime Minister Krisjanis Karins has announced. This requirement will not apply to pharmacies and food stores, veterinary shops, gardening and construction stores, as well as optician stores. According to Karins, the decision…
It would not be right to postpone the planned tax reform because of the illness spreading in Latvia because of Covid-19 coronavirus. It should be implemented at least partially, said Bank of Latvia governor Martins Kazaks on March 24. “It is clear it will not be possible to revise the tax system, but there are…