Latvia

The EC forecasts 1% growth for Latvia this year

November 17, 2025

The European Commission (EC) forecasts 1 percent growth for Latvia’s economy this year, according to its autumn economic outlook published on Monday. Valdis Dombrovskis (New Unity), the European Commission’s Executive [..]

Latvia

Unplanned tax changes are harming Latvia’s international reputation and will significantly expand the shadow economy, FICIL warns

November 13, 2025

Unplanned tax changes are damaging Latvia’s international image in the eyes of investors and will significantly expand the shadow economy, according to a letter from the Foreign Investors’ Council in [..]

Latvia

46% of Latvians earned extra income last year

June 3, 2025

Swedbank has told LETA that 46% of respondents in a survey in Latvia that was conducted by the Institute of Finance reported that they gained additional income during the course [..]

Latvia

Latvian PM: Latvia good place to invest in drone manufacturing

May 29, 2025

Latvian Prime Minister Evika Silina attended a defence innovation summit, Drone Summit 2025, in Riga on Wednesday, declaring that the use of drones will expand more and more in future [..]

Baltics, Latvia

Fitch Affirms Latvia’s Credit Rating at ‘A-‘

May 11, 2025

International ratings agency Fitch Ratings has affirmed Latvia’s sovereign credit rating at ‘A-‘, maintaining a stable outlook, the agency announced in a statement. Fitch attributes the rating to Latvia’s credible [..]

Latvia

Latvia discloses forestry imports, exports

April 8, 2025

Latvia imported EUR 82.832 million worth of forestry products in January 2025, which was an increase of 16.3% over the same period in 2024, the country’s Agriculture Ministry has announced. [..]

Latvia

Average monthly wages up in Latvia

February 28, 2025

The average gross monthly wage for full-time workers in Latvia was EUR 1,685 last year, which was an increase of 9.7% (EUR 149) against 2023, the Central Statistical Bureau (CSB) [..]

Latvia

Latvian tax agency discloses tax debt level

February 24, 2025

In early February 2025, tax debts in Latvia amounted to EUR 850.606 million, which was 0.7% more than a year before, the State Revenue Service (VID) has announced. This total [..]

Latvia

Latvian insurance market set to expand

January 31, 2025

The insurance market in Latvia can expect growth of 6-8% this year, which would be a bit less than last year, the president of the Latvian Association of Insurers, Janis [..]

Latvia

55% of SMEs in Latvia do not access foreign capital

January 29, 2025

As many as 55% of small and medium enterprises in Latvia (SMEs) do not use any foreign capital, representatives of the Luminor Bank have told the LETA news agency after [..]

Opinions

Will cancelled airBaltic flights influence passenger loyalty, Latvia’s economy?

January 15, 2025

By journalist Inga Karlinska. The Latvian flag carrier airBaltic recently announced that it is cancelling 4,670 flights this summer. This has affected 67,160 passengers who, because of this decision, are [..]

Latvia

Survey reports plans for Christmas spending in Latvia

December 9, 2024

59% of Latvians say that they plan to spend up to EUR 150 on Christmas and New Year’s gifts this year. The SEB Bank conducted a survey on the matter [..]

Latvia

Latvian investment chief: Country’s strength is in her people

December 3, 2024

People are definitely Latvia’s strong suit when it comes to attracting investments, the director of Latvia’s Investment and Development Agency (LIAA), Ieva Jagere, has told the LETA news agency in [..]

Latvia

Latvian Revenue Service discloses level of tax debt in October

October 17, 2024

Taxpayers in Latvia owed EUR 854.026 million in tax debt at the beginning of October this year, which was 1.4% more than in September and 1% less than at the [..]

Latvia

Latvian finance minister: Improvements needed to state-funded pension system

October 16, 2024

Latvian Finance Minister Arvils Aseradens told the TV3 news channel this morning that improvements are needed to the country’s state-funded pension system. The minister said that during the past 17 [..]

Latvia

To stimulate economic activity, people must be brought back to Riga center – mayor

August 27, 2024

To stimulate economic activity in Riga and reduce the number of empty shop windows in the city center, it is necessary to bring back people to the city center, Riga [..]

Latvia

Foreign investors rate investment climate in Latvia at historic low

April 17, 2024

Foreign investors’ assessment of the overall investment climate in Latvia reached its lowest rating of 1.9 points out of 5. In comparison to 2022, the rating has fallen by 0.4 [..]

Latvia

EUR 871,000 worth of Latvian lats banknotes and coins exchanged for euros in 2023

January 3, 2024

Last year LVL 611,900 (EUR 871,000) Latvian banknotes and coins were exchanged for euros at the Bank of Latvia, LETA was told at the central bank. The money exchanged in [..]