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…
A four-year-old boy in Latvia died of diphtheria at the Children’s Clinical University Hospital (BKUS) in Riga on 16 September 2024, LSM reports. The boy was unvaccinated for the preventable disease. Four children, including two of the dead boy’s sisters, were treated for diphtheria at the hospital. The parents, who took the sisters out of…
Latvia’s new early warning system will not be implemented at the end of 2024 as planned because of a delay in the procurement process, Interior Minister Rihards Kozlovskis announced, LSM reports. He said that the delay was due to the many legal appeals during the procurement procedure. The ministry announced a procurement tender for the…
Lithuania’s Prosecutor General, Nida Grunskiene, has asked the European Parliament to strip Lithuanian MEP Petras Grazulis of his parliamentary immunity to face prosecution in Lithuania, Baltic News Network reports. Grazulis stands accused of expressing contempt for members of the LGBT community. The case was put on hold after he was elected MEP. Grazulis faces fines…
The Latvian government plans to raise the personal income tax (PIT) for those with high income in 2025, LETA reports. Under the plan, the government will introduce an additional 3% PIT rate for those with income of over EUR 200,000 per year. The additional tax will apply to all taxable income, including capital gains. At…