Latvia’s State Police has made the country’s largest ever drug bust near Aluksne, LETA reports. Police seized over 38,000 litres of chemical liquids used as precursors for the production of synthetic drugs. Police found more than one tonne of Clephedrone (4-CMC) with a market value of at least EUR 400mn at the illegal production facility…
The unemployment rate in the Baltic States was lowest in Latvia in August 2024, according to Eurostat data, LETA reports. Latvia’s unemployment rate stood at 7.0%, compared to 7.9% in both Estonia and Lithuania. Average unemployment in the EU stood at 5.9% and at 6.4% in the eurozone.
The Latvian parliament, the Saeima, has passed in final reading amendments to ban advertising of beer and wine on radio and TV, Baltic News Network reports. The ban will apply to advertisements that include information on prices and discounts. The restriction is aimed at reducing the total consumption and negative impact of alcohol on young…
The Latvian parliament, the Saeima, has passed in final reading amendments freezing state funding for political parties for one year, LETA reports. Altogether 88 MPs voted in favour of the amendments. State support for political parties in 2025 will be calculated based on the minimum monthly wage in 2024. Altogether 13 parties received a total…
Latvia’s national air carrier, airBaltic, plans to expand its operations at Lithuania’s Vilnius International Airport (VIA), CEO Martin Gauss announced, LETA reports. He said that the company would more than double its fleet in Vilnius and increase the number of destinations offered from the airport. Currently, airBaltic has two aircraft stationed at VIA. Gauss said…
Lithuanian Prime Minister Ingrida Simonyte has expressed scepticism about an idea to establish a state-run second-pillar pension fund, Baltic News Network reports. She noted that there was plenty of competition in the pension fund market, and that the activities of pension funds were well regulated. The problem was that there was not much choice on…
The Latvian government is discussing possible changes to second-tier pension funds, LETA reports. The Latvian parliament, the Saeima, will consider a public initiative opposing the government’s plan to reduce automatic second-tier pension contributions, LSM reports. The petition collected the necessary signatures in record short time. The government has proposed transferring 1% of second-pillar pension funds…
The Latvian government plans to raise taxes on fuel, harmful beverages, tobacco, and gambling, LETA reports. Under the plan, the excise tax on fuel will amount to EUR 10 per tonne of CO2 in 2025 and to EUR 20 per tonne in 2026. The excise duty on sugary non-alcoholic beverages will rise from the current…
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…