Latvia’s ruling coalition will soon need to discuss “painful decisions” on taxes, Prime Minister Evika Silina stated, LETA reports. Speaking in an interview with TV3, Silina said that simplifying taxation was an important priority. The Ministry of Finance has developed potential proposals for changes on real estate tax, labour costs, corporate income tax, VAT, small…
Latvia’s State Audit Office (LRVK) has criticised the Ministry of Education and Science for ineffective policies in attracting and retaining teachers, LETA reports. A significant portion of new teachers leave within five years due to systemic issues, including constant changes, insufficient teaching materials, poor remuneration, and uncertainty about reforms. The audit notes that the ministry’s…
Unemployment in the Baltic States was highest in Lithuania in May 2024, according to Eurostat data, LETA reports. The unemployment rate stood at 7.7% in Lithuania, 7.4% in Estonia, and 6.7% in Latvia. The EU average was 6%.
The ruling coalition in Latvia will review contracts and rising costs of the Rail Baltica railway project before approving any related payments, LETA reports. Following an audit of the project, the Ministry of Transport has turned to the Prosecution Office. The audit estimated that the total cost of the project had risen to EUR 23.8bn….
The Latvian parliament, the Saeima, has passed a law to dissolve the Rezekne city council due to violations in financial and budget management, LETA reports. The city council served its last day on 1 July 2024, but plans to contest the dissolution in the Constitutional Court. The Ministry of Environmental Protection and Regional Development pointed…
Negotiations about possible changes to Latvian Prime Minister Evika Silina’s government may resume at the end of summer 2024, with discussions about potentially expanding the coalition, LETA reports. Maris Kucinskis of the opposition United List confirmed the group’s interest in joining the government but only as a unified party. Agriculture Minister Armands Krauze acknowledged informal…
Latvia’s tax revenue totalled EUR 3.325bn in the first quarter of 2024, which was EUR 40.7mn (1.2%) less than planned, according to Finance Ministry data, LETA reports. Tax revenue was EUR 109.2mn (3.4%) higher than in the first quarter of 2023, however. General state budget tax revenues totalled EUR 3.126bn, which was 1.1% short of…
Estonia’s GDP dropped by 2.1% in the first quarter of 2024, compared to the same period of 2023, according to Statistics Estonia’s flash estimate, Baltic News Network reported. The GDP decline thus slowed down, the preliminary data showed. Compared to the fourth quarter of 2023, the seasonally and working-day adjusted GDP remained unchanged.
Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will…