Lending in Latvia remains slow, with high interest rates compared to the Eurozone, particularly in the housing and corporate sectors, according to the Bank of Latvia, LETA reports. While home loan interest rates have decreased slightly since 2018, they are still two percentage points higher than the Eurozone average, partly due to the dominance of…
The Latvian government plans to raise the country’s minimum wage in 2025, Finance Minister Arvils Aseradens announced, LETA reports. Under the minimum wage algorithm, the monthly minimum wage will rise to EUR 740 in 2025, EUR 780 in 2026, EUR 820 in 2027, and EUR 860 in 2028. Currently, the minimum wage stands at EUR…
The Latvian government should seek to reduce the costs of the Rail Baltica railway project, the European Commission’s Executive Vice-President Valdis Dombrovskis stated, LETA reports. Speaking in an interview with Latvijas Radio, Dombrovskis pointed out that not everything could be financed with EU funds. He said that part of the project should be financed from…
Latvia’s Ministry of Transport has proposed that passengers travelling on the Rail Baltica railway will have to change trains to transfer from Riga Central Station to Riga International Airport, LETA reports. Under the plan, Riga Central Station would be connected to the airport via a standard-gauge (1,520 mm) railway line. The ministry argued that building…
The Latvian government will have to relinquish its controlling stake in the national air carrier, airBaltic, “sooner or later,” Prime Minister Evika Silina said, LETA reports. The government wants airBaltic to operate more on market principles, she stated. If airBaltic’s planned IPO fails, the government will make a “separate decision” on the company’s future, Silina…
The average monthly wage in the Baltic States rose the fastest in Lithuania in 2023, according to research agency Figure Baltic Advisory’s study, LETA reports. The average wage rose by 8.8% in Lithuania, 8.2% in Latvia, and 7.3% in Estonia over a year. The agency projects that the monthly basic salary will rise by 6.3%…
UAE-based messaging platform Telegram has deleted several channels and groups, including ones containing child pornography, following requests from Latvian State Police, LETA reports. However, Telegram has failed to provide information about the creators of the channels. The State Police noted that criminals in Latvia often use Telegram for planning and to sell illegal substances and…
Schools in Latvia received bomb threats in Russian at the start of the new school year on 2 September 2024, LETA reports, citing TV3. Armands Ruks, chief of the State Police of Latvia, said that more than 200 emails with bomb threats were sent. He said that schools in all counties received such messages. While…
Altogether 224,322 pupils in Latvia, including 20,657 first-graders, started their new school year on 2 September 2024, LETA reported. Latvia has 481 municipal and 75 private schools, including 224 primary schools and 197 secondary schools. The number of school teachers totals 25,879.