Latvia’s Ministry of Finance plans to submit draft laws on the state budget for 2024 and budget plans for 2024-2026 to the parliament, the Saeima, on 3 November 2023, LETA reports. The government will discuss the budget at its next meeting. The new coalition government’s declaration pledges to carry out a “balanced social, environmental, and…
Latvian banks made a total profit of EUR 350.312mn in the first half of 2023, which was up 2.6 times from EUR 132.526mn in the corresponding period of 2022, according to data from the Bank of Latvia, LETA reports. The banking sector’s overall profit for the first six months of 2023 was higher than for…
Latvians will elect one more MEP in the next elections to the European Parliament in June 2024, LETA reports. Currently, Latvia has eight MEPs. The European Parliament approved the European Council’s proposal to increase the number of MEPs from 705 to 720 due to demographic changes.
Latvia’s New Unity, Union of Greens and Farmers (ZZS), and Progressives have agreed on the distribution of seats in their new coalition government, LETA reports. New Unity will have eight, ZZS will have five, and the Progressives will have three seats in the new cabinet. The Latvian parliament, the Saeima, is due to approve the…
Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ)…
Latvia’s President, Edgars Rinkevics, met with representatives of the United List alliance to discuss the formation of a new coalition government, LETA reports. He said that forming a government with the broadest possible parliamentary majority was still possible. Earlier, United List refused an invitation from prime minister-designate Evika Silina to form a four-party coalition government…
Latvia’s United List has rejected an offer from prime minister-designate Evika Silina to form a four-party coalition government with New Unity, the Union of Greens and Farmers (ZZS), and the Progressives, LSM reports. Edgars Tavars, head of the United List’s parliamentary group, said that his group would propose another coalition model instead, with Silina still…
Latvian President Edgars Rinkevics has nominated New Unity’s Evika Silina for prime minister, LETA reports. Silina would replace New Unity leader Krisjanis Karins, who announced his resignation from the premiership earlier. Silina serves as minister of welfare in the current government. Rinkevics expressed confidence that Silina would be able to form the broadest possible coalition…
The Latvian government will extend the period for Russian citizens residing in the country to pass a Latvian language examination, LETA reports. The government instructed the Ministry of Interior to prepare amendments that would allow Russian citizens to apply for temporary residence permits for two years, during which time they would have to take the…