Latvia’s construction output increased by 16.1% in the first half of 2023 compared to the same period of 2022, according to the Central Statistical Bureau’s calendar-adjusted data at constant prices, LSM reports. Construction of buildings rose by 23.2%, specialised construction activities by 17.5%, and civil engineering works by 2.6% over a year. In the second…
The Baltic banking group, Luminor Bank, made a net profit of EUR 53.2mn in the second quarter of 2023, which was up 81% from the same period of 2022, ERR reports. The group attributed the sharp rise in profit to an improvement in net interest income. Meanwhile, operating expenses increased by 72% amid investments in…
Latvia’s Riga City Council is likely to elect New Unity’s Vilnis Kirsis as the city’s new mayor, LSM reports. Kirsis has served as acting mayor since previous mayor Martins Stakis resigned in early July 2023. The city council is scheduled to vote on the election of a new mayor on 17 August 2023. Kirsis said…
The Estonian Tax and Customs Board (EMTA) collected EUR 6.12bn in taxes in the first half of 2023, which was 4.8% more than in the same period of 2022, ERR reports. State budget revenue amounted to 47.4% of the annual budget target. Social tax revenue rose by 12.2%, personal income tax revenue by 11.7%, and…
Latvian Prime Minister Krisjanis Karins announced that he intended to resign, LSM reports. He said that he would inform President Edgars Rinkevics about the resignation on 17 August 2023. Karins said that he would not head the next government and called on his New Unity party to nominate a new candidate for prime minister. Earlier,…
A Russian army lieutenant who took part in Russia’s war in Ukraine has fled to Lithuania and applied for asylum, TV3 reports. He was detained at Vilnius bus station, after which he applied for asylum. Earlier, the man had crossed the border from Belarus but was pushed back by border guards. In June 2023, a…
Estonia should strengthen cooperation with Taiwan and consider opening a Taiwanese representative office (Taipei Mission) in Tallinn, Marko Mihkelson, chairman of the foreign affairs committee of the Estonian parliament, the Riigikogu, stated, ERR reports. Speaking after a joint visit by the heads of the foreign affairs committees of Baltic parliaments to Taiwan, Mihkelson noted that…
Latvian Prime Minister Krisjanis Karins (New Unity) announced his intention to end the current government coalition and form a new one, LSM reports. He said that New Unity’s current coalition partners, the National Alliance and the United List, had rejected his proposals for a ministerial reshuffle and revised policy priorities. Karins said that he would…
Latvia’s foreign trade turnover totalled EUR 21.39bn at current prices in the first half of 2023, which was down EUR 963.9mn (4.3%) from the corresponding period of 2022, according to provisional data from the Central Statistical Bureau, LSM reports. The total value of exports amounted to EUR 9.62bn (down 4.5%) and of imports to EUR…
