Latvia’s State Treasury has issued seven-year eurobonds worth EUR 600mn on international financial markets, LETA reports. The bonds will mature on 25 January 2032. The bond yield is 3.138%, and the coupon is 3%. Demand for the bonds among investors amounted to almost EUR 5bn. The number of investors was 140. In May 2024, Latvia…
The Estonian Trade Union Confederation (EAKL) and the Confederation of Estonian Employers (ETK) have begun negotiations on the minimum wage for 2025, ERR reports. EAKL demands that the minimum wage be raised by 12%. Arto Aas, managing director of ETK, has little hope of an agreement. Earlier, EAKL and ETK signed a “goodwill agreement” to…
Several ministries in Estonia have criticised the Ministry of Climate’s proposed new climate law, ERR reports. The ministries argued that the bill’s structure and purpose were unclear, and that the bill failed to define the rights and obligations under the proposed law. Interior Minister Lauri Läänemets and Justice Minister Liisa Pakosta said that the bill…
The Latvian government plans to raise the personal income tax (PIT) for those with high income in 2025, LETA reports. Under the plan, the government will introduce an additional 3% PIT rate for those with income of over EUR 200,000 per year. The additional tax will apply to all taxable income, including capital gains. At…
Estonia’s housing price index rose by 6.7% in the second quarter of 2024, compared to the same period of 2023, according to Statistics Estonia, ERR reports. Compared to the first quarter of 2024, the index rose by 2.8%. Apartment prices rose by 2.9% and house prices by 2.4% over a quarter. Apartment prices rose by…
Estonia’s Social Insurance Board (SKA) has cancelled child benefits for nearly 3,000 Estonian children who mostly live abroad since 2019, ERR reports. Signe Riisalo, Minister of Social Protection, pointed out that family benefits are only meant for people living in Estonia. People paying taxes in Estonia should not pay for benefits to people who do…
The Latvian government is unlikely to satisfy the Health Ministry’s request for EUR 153.3mn of additional funding for hospitals in the 2025 state budget, LSM reports. Health Minister Hosams Abu Meri said that the money was needed for human resources, medicines, infrastructure, emergency services, digitalisation, and data security. However, the government has listed external and…
Nearly half of small and medium-sized enterprises (SMEs) in Estonia regard the country’s economic climate as being negative, according to a Turu-Uuringute poll for loan comparison platform Sortter, BNS reports. The survey showed that 46% of local entrepreneurs saw the economic climate as negative in August 2024. The main perceived challenges included operating costs (57%)…
Producer prices in Latvian industry declined by 2.6% in August 2024, compared to the same period of 2023, according to data from the Central Statistical Bureau (CSP), LSM reports. Prices declined by 12.7% in energy supply, 1.4% in mining and quarrying, and 0.6% in manufacturing, but increased by 5.3% in water supply and waste management….