Gross domestic expenditure on research and development (R&D) in the Baltic States was highest in Estonia in 2024, according to Eurostat data, LSM reports. Estonia’s R&D spending stood at 1.99% of GDP, which was up from 1.83% in 2023. The indicator stood at 1.04% (1.04%) in Lithuania and at 0.92% (0.82%) in Latvia. The EU…
Latvia’s Ministry of Defence has announced details on its planned spending under the government’s defence budget in 2026, LSM reports. Latvia will spend a total of EUR 2.158bn on defence in 2026, which will be 4.91% of the estimated annual GDP. Altogether EUR 1.14bn (53%) of the defence budget will go to buy new military…
An influenza epidemic has begun in Latvia, the Centre for Disease Prevention and Control (SPKC) announced on 8 December 2025, LETA reports. According to data from the National Microbiology Reference Laboratory (NMRL), the share of positive samples for influenza has risen sharply to 18.1%, which exceeds the epidemic threshold of 10%. SPKC reminded that vaccination…
The number of job vacancies in Latvia totalled 19,200 in the third quarter of 2025, which was 3,700 (16.1%) less than in the same period of 2024, according to data from the Central Statistical Bureau (CSP), LSM reports. The number of vacancies amounted to 10,800 in the private sector and to 8,400 in the public…
Baltic financial group Luminor has appointed Karl von Rohr as the new chairman of the supervisory councils of Luminor Holding and Luminor Bank as of 1 January 2026, LSM reports. He replaces Nils Melngailis, who served in the positions since the bank was established in 2017. Prior to his appointment, von Rohr was management board member…
Latvian Foreign Minister Baiba Braze is paying a working visit to the United States on 8-9 December 2025, LSM reports. She will meet with representatives of the US presidential administration and members of the US Congress. In addition, Braze will hold discussions at several US foreign policy think tanks, the Foreign Ministry announced.
The profit share of non-financial corporations in the Baltic States was highest in Lithuania in 2024, according to Eurostat data, LSM reports. The profit share of non-financial corporations in Lithuania stood at 41.6%, followed by Estonia with 40.0% and Latvia with 35.6%. The EU average was 40.1%. The business profit share is defined as gross…
The Latvian parliament, the Saeima, will begin work on legislation to improve consumer protection against financial fraud, Anda Caksa, chairwoman of the parliament’s budget and finance committee, announced, LETA reports. Speaking after a meeting with representatives of the Finance Latvia Association (FNA), Caksa said that legislative changes were needed so as to require mobile operators…
The Latvian parliament, the Saeima, has approved amendments to introduce a reduced 12% value-added tax rate on selected basic food products in 2026, LETA reports. Under the amendments, the lower VAT rate will apply to various bread products, milk, poultry meat, and eggs. The reduced VAT will apply from 1 July 2026 to 30 June…
