A total of EUR 80 million will be available in Latvia’s budget for 2018, as confirmed by Finance Minister Dana Reizniece-Ozola after the government’s extraordinary meeting. On August 29, the Cabinet of Ministers discussed requests of different ministries for priorities. Previously, the total value of priorities submitted by ministries was estimated at EUR 600 million.…
Soon Latvian residents and businesses will be able to perform most transactions within seconds, Swedbank representatives promise. This will be made possible thanks to lightning-fast or electronic transaction system between European banks. Multiple Latvian banks intend to join this system. Swedbank predicts that Latvian residents will like this, seeing as how they have already gotten…
In Q2 the average gross wages and salaries for full-time work constituted 927 euros. Compared to Q2 2016, the average wages and salaries increased by 74 euros or by 8.7%. Compared to the previous quarter, in Q2 2016 the increase in the gross wages and salaries comprised 4.8% (42.7 euros). Compared to Q2 2016, in…
Internet stores continue becoming more and more popular among residents. The number of transactions using Visa payment cards issued by PrivatBank has grown by 6.1% YoY in the first six months of 2017, according to data compiled by PrivatBank. January and March were the hottest months for Internet shopping in this year’s six-month period. The…
Compared to July 2016, construction costs increased by 1.7%. Labor remuneration of workers grew by 4.4%, prices of building materials increased by 1.3%, while maintenance and operational costs of machinery and equipment rose by 0.5%. Compared to June, the level of construction costs in Latvia increased by 0.1% in July. Labor remuneration of workers increased…
Every fourth Latvian resident considers reducing the amount of meat in their diet or becoming a vegetarian or vegan, as stated in the latest Maxima survey. What is particularly interesting is that the largest proportion of such residents is found in Riga and Latgale. At the same time, 55% of respondents have no plans to…
The price of butter in Latvia has reached its maximum, said Competition Council chairman Skaidrite Abrame. “Prices in Latvia have definitely reached the peak. Alternatives for imports of cheaper butter are being considered,” Abrama said, adding that butter in Estonia was at least 20-30% cheaper. Abrama also notes that prices for butter have grown considerably…