Latvia: President proposes freezing wages of heads of state companies

Latvian President Edgars Rinkevics has submitted to the country’s parliament, the Saeima, amendments that would freeze the wages of top management in state-owned enterprises (SOE), LETA reports. Under the proposal, the wages of top executives at state and municipal companies would be frozen until the end of 2026. Rinkevics stressed that the remuneration of top management in SOEs should be “competitive but also proportionate,” LSM reported. At the same time, he noted that state budget resources were limited. Under current rules, board and council members of large SOEs cannot receive salaries that are more than ten times the average gross monthly wage, excluding possible bonuses. Meanwhile, the Ministry of Education and Science plans to propose freezing the wages of heads of higher education establishments as well, LSM reports.