Latvia will have to raise its defence budget to at least 4% of GDP in the coming years, President Edgars Rinkevics stated, LSM reports. Speaking after a meeting with Prime Minister Evika Silina, Rinkevics insisted that the current defence spending of 3.45% of GDP was not enough. He noted that Latvia had “a rather serious problem”…
Latvia’s Corruption Prevention and Combating Bureau (KNAB) has opened an investigation into possible conflict of interest involving Martin Gauss, CEO of the country’s national airline, airBaltic, LETA reports. KNAB said that it opened the probe after receiving applications from private individuals. Earlier, Girts Lapins, spokesman for the opposition National Alliance, reported that Gauss owns a…
The Investment and Development Agency of Latvia (LIAA) helped attract 45 foreign investment projects, which will create an estimated 2,023 new jobs, in 2024, LSM reports. The total value of the projects is EUR 655.4mn, which is up 6% from 2023. The biggest investments were in high-value-added manufacturing, ICT, energy, and aviation. LIAA’s target is…
Parties in Latvia’s coalition government have postponed decisions on possible changes to the management of the country’s national air carrier, airBaltic, LSM reports. Prime Minister Evika Silina said that the government would wait for decisions of airBaltic’s shareholders. She noted that airBaltic was partly privately-owned, and that the government did not manage the company directly….
Latvia’s national air carrier, airBaltic, has no plans to ask the government for more money, CEO Martin Gauss stated, LSM reports. Speaking in an interview with LTV, Gauss said that the company had to raise additional capital from international investors on the stock market instead. Earlier, Klavs Vasks, chairman of airBaltic’s supervisory board, surmised that…
The gross value added (GVA) generated by the forestry and logging industry in the Baltic States was highest in Latvia in 2022, according to Eurostat data, LSM reports. The sector’s GVA totalled EUR 490mn in current prices in Latvia in 2022, which was up from EUR 123mn in 2000. The forestry industry’s GVA totalled EUR…
The Latvian animated film, “Flow,” has become the first Latvian film to receive a Golden Globe award, LSM reports. The film, directed by Latvian filmmaker Gints Zilbalodis, won the Golden Globe Award for Best Animated Feature Film of 2024. The film, notable for being completely rendered on the free and open-source software, Blender, and containing…
Latvia has taken over the presidency of the Baltic Council of Ministers (BCM) for 2025, LSM reports. The focus of the Latvian presidency will be on regional security and resilience, support for Ukraine, regional connectivity, energy security, and investments, the Latvian Foreign Ministry stated. Latvia would pay special attention to external borders, civil protection and…
Several media outlets from Russia moved their editorial offices to Latvia after Russia’s full-scale invasion of Ukraine in February 2022, LSM reports. Latvia has since issued over 6,000 visas to Russian citizens, of whom 500 are journalists and their family members. Dace Melbarde, parliamentary secretary at Latvia’s Foreign Ministry, said that giving Russian journalists an…