Latvia’s general government deficit totalled EUR 849.6mn in 2024, according to the methodology of the European System of Accounts (ESA 2010), the Ministry of Finance announced, LETA reports. The deficit amounted to 2.1% of GDP, which was 0.3 percentage points lower than in 2023. The general government debt totalled EUR 19bn at the end of…
German aviation group Lufthansa Group will become a strategic investor in Latvia’s national air carrier, airBaltic, LSM reports. Under the deal, Lufthansa will acquire 10% of shares in airBaltic for EUR 14mn. The group plans to close the deal in the second quarter of 2025, subject to regulatory approval. The shares will be converted into…
Latvia’s total retail trade turnover rose by 1% in 2024 compared to 2023, according to calendar-adjusted data at constant prices published by the Central Statistical Bureau (CSP), LSM reports. The annual turnover of retail trade in food products decreased by 1.6%, whereas retail trade of non-food products (except automotive fuel) increased by 2.3%. Retail sales…
The Latvian parliament, the Saeima, has passed in final reading amendments further limiting alcohol sales and advertising as of 1 August 2025, LSM reports. Under the amendments, the sale of alcoholic beverages will be permitted from 10am to 8pm on Monday to Saturday and from 10am to 6pm on Sunday, thus reducing the availability of…
Lithuanian Foreign Minister Kestutis Budrys called for a “strong and decisive” response to attacks on critical infrastructure in the Baltic Sea, BNS reports. Speaking during a meeting with Latvian President Edgars Rinkevics in Riga, Budrys urged to expand NATO patrols, impose sanctions on Russia’s shadow fleet, and revise navigation rules in the Baltic Sea. Meanwhile,…
The four policy priorities of Latvia’s coalition government in 2025 are “security, support for families, economic growth, and reducing bureaucracy,” Prime Minister Evika Silina announced, LSM reports. She will begin individual meetings with ministers to discuss the priorities, according to LETA. Silina said that national security remained the government’s most pressing priority, highlighting the need…
Latvia will have to raise its defence budget to at least 4% of GDP in the coming years, President Edgars Rinkevics stated, LSM reports. Speaking after a meeting with Prime Minister Evika Silina, Rinkevics insisted that the current defence spending of 3.45% of GDP was not enough. He noted that Latvia had “a rather serious problem”…
Estonia’s state-owned passenger train operator, Eesti Liinirongid (Elron), plans to open a direct train connection between Tartu in southern Estonia and the Latvian capital, Riga, in summer 2025, BNS reports. Elron will soon begin test runs between Valga and Riga. CEO Lauri Betlem said that the authorisation of trains in Latvia had taken much longer…
Finnish President Alexander Stubb and Estonian Prime Minister Kristen Michal will host a summit of Baltic rim NATO countries in Helsinki on 14 January 2025 to discuss the security of critical undersea infrastructure and Russia’s shadow fleet, ERR reports. Political leaders from all Baltic rim NATO countries, NATO Secretary General Mark Rutte, and European Commission…