Latvia’s outgoing president, Egils Levits, delivered his departure speech on 7 July 2023, LSM reports. He thanked the people of Latvia for giving him the opportunity to serve for four years as their president. Levits said that his role was to work for a Latvian Latvia without "remnants of Soviet occupation." The President said that…
Latvia had the largest share of people outside the labour force in the three Baltic states in the first quarter of 2023, according to Eurostat data, LSM reports. Just over 16% of Latvia’s potential labour force is not currently part of the working population. The figure stands at 15.4% in Lithuania and 12.3% in Estonia….
Latvia will maintain enhanced monitoring of its border with Belarus due to concerns raised by the presence of the Russian private military company, Wagner Group in Belarus, President Egils Levits stated, LSM reports. A few dozen people continue to attempt crossing from Belarus into Latvia every day. However, there is no significant risk regarding Russian…
Latvia’s Riga International Airport (RIX) served over 3 million passengers in the first half of 2023, which was nearly 40% more than in the same period of 2022, LSM reports. Transit passengers accounted for 21% of the total, which was up from 17% a year earlier. The average load factor of passenger aircraft stood at…
While Latvia’s economy is generally resilient and the labour market remains strong with low unemployment, the economy will still face significant fragility in 2023, Martins Kazaks, president of the Bank of Latvia, warned, LSM reports. Speaking in an interview on LTV, Kazaks emphasised the need for economic transformation in order to avoid falling behind other…
Latvia’s President, Egils Levits, paid his last foreign visit to Lithuania, meeting with Lithuanian President Gitanas Nauseda, on 5 July 2023, LSM reports. Foreign Minister Edgars Rinkevics will take office as Latvia’s new president on 8 July 2023. Rinkevics will make his first official visit abroad as president to Estonia on 10 July 2023, ERR…
Latvia’s industrial production output declined by 8.8% in May 2023 compared to a year earlier, according to calendar-adjusted data at constant prices, data from the Central Statistical Bureau showed, LSM reports. Output dropped by 7.7% in manufacturing, 7.9% in mining and quarrying, and 15.3% in electricity and gas supply. Compared to April 2023, industrial production…
The Latvian bakery, Kuldigas Maizes Ceptuve (Kuldiga Bakery), will continue operations under new ownership, LSM reports. Earlier, the company announced that the bakery would be forced to shut down. However, the bakery has now been acquired by Kuldiga-based entrepreneur Gatis Rozenfelds, who plans to resume production. Kuldiga Bakery began producing bread and pastries in the…
Food prices in Latvia are not falling as rapidly as they should, and people’s purchasing power is not increasing, Inguna Gulbe, head of the Agricultural Market Promotion Centre (LTVC), stated, LSM reports. She noted that prices for some food products, such as sunflower oil and butter, were falling, while other food products remained more expensive…