The Latvian parliament, the Saeima, has rejected proposed amendments that would have introduced criminal liability for prohibited agreements in public procurement, LETA reports. Prosecutor General Juris Stukans said that the Prosecution Office (LRP) would continue trying to convince MPs of the need for such legislation to prevent corruption and facilitate criminal investigations. The Corruption Prevention…
Food prices in Latvia will grow by less than 4% in 2024, Ieva Opmane, economist at the Bank of Latvia, forecast, LSM reports. The price hike will be higher than average inflation but much less than in 2023 and 2022, she said. The rise in food prices will depend on consumer income, energy prices, harvests,…
Lithuania’s Competition Council has blocked All Media Lithuania’s acquisition of several local radio stations, BNS reports. All Media Lithuania, part of Baltic media group TV3 Group, planned to acquire 100% of shares in three companies that operate radio stations Laluna, Lietus, M-1, M-1 Plius, and Raduga, as well as advertising agency Reklamos Ekspertai. The Competition…
Latvia’s retail sector has had no competition, especially in grocery trade, for years, Agriculture Minister Didzis Smits stated, LETA reports. Speaking in an interview with LTV, Smits asserted that retailers could set markups of 300% plus VAT on local produce and still compete, which he said was “abnormal” and “unpatriotic.” He insisted that in such…