The three Baltic States have joined Finland, Ireland, Poland, and Sweden in urging the EU to use frozen Russian assets to help Ukraine, LETA reports. The seven member states sent a joint letter to European Commission (EC) President Ursula von der Leyen and European Council President António Costa to express support for the EC’s proposal…
French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
The Latvian parliament, the Saeima, has approved in final reading the state budget for 2026, LSM reports. Altogether 52 MPs voted for and 42 against the budget bill. This is the current coalition government’s third budget. The government foresees annual revenues of EUR 16.1bn, which would be EUR 944.6mn more than in 2025. Budget expenditures…
The presidents of the three Baltic States met in the Latvian capital, Riga, on 4 December 2025 for their annual pre-Christmas meeting, LSM and BNS reported. Latvian President Edgars Rinkevics said that key issues discussed included defence and security, border protection, and support for Ukraine. He emphasised that “if you look at the map, the…
The Latvian parliament, the Saeima, has approved in final reading draft laws accompanying the state budget for 2026, LETA reports. MPs will now begin discussing the draft budget. The government’s budget priorities are national security, support for families with children, and high-quality education. Revenues are planned at EUR 16.1bn and expenditures at EUR 17.9bn. The…
Latvia’s state real estate management company, Valsts Nekustamie Ipasumi (VNI), plans to complete the construction of a fence along the full stretch of the country’s border with Russia by the end of 2025, LSM reports. Only around 6 kilometres of the fence remains to be built in areas of difficult terrain along the border. VNI…
Gender equality in Latvia worsened sharply in 2025, according to the European Institute for Gender Equality’s (EIGE) Gender Equality Index, LETA reports. Latvia ranked 24th out of 27 EU member states on the index in 2025, which was down from 19th place in 2024. Latvia scored 56.7 points on gender equality, which was down from…
International rating agency Fitch Ratings has downgraded the long-term issuer default rating of Latvia’s national air carrier, airBaltic, from B-/Negative to CCC+, indicating “significant risks” for creditors, LETA reports. Fitch also downgraded airBaltic’s senior secured long-term notes worth EUR 380mn from B- to CCC+. The agency noted that airBaltic’s level of indebtedness was higher and financial…
A rail link to the Latvian capital, Riga, is planned to be built in the second phase of the Rail Baltica railway project, Marko Kivila, CEO of the Baltic joint venture, RB Rail, told LETA. He noted that the Baltic States had not agreed on a timetable for the second phase yet. There would be…