Economy
Latvian chickens eat Russian feed, LTV reports
Latvian chickens eat Russian feed, LTV reports
Latvia is currently discussing a ban on animal feed imports from Russia and Belarus. According to the Food and Veterinary Service, twelve establishments are indicated as the destination of these goods in Latvia at the time of crossing the border, of which the egg producer Balticovo is the most well-known to the general public, Latvian Television's "Kas notiek Latvijā/KNL" broadcast reported on February 21.
Exports promotion will be tougher in Latvia this year, experts say
Exports promotion will be tougher in Latvia this year, experts say
Last year Latvia's foreign trade turnover dropped and this year Latvian exporters will have to continue searching for ever new export markets to reduce the pressure caused by the geopolitical situation. Support for export promotion from the European Structural Funds has decreased significantly for this planning period, Latvian Radio reported on February 21.
FM report: Latvia risks European Union fund loss
FM report: Latvia risks European Union fund loss
A risk of not using more than 500 million euros of European Union (EU) fund investments has been detected for this year, the Ministry of Finance (FM) informative report, which will be heard by the government on Tuesday, February 20.
Bidder excluded from power grid procurement over security concerns
Bidder excluded from power grid procurement over security concerns
The Latvian electricity transmission provider High Voltage Network (Augstsprieguma tīkls, AST) signed a €77 million contract with Rolls-Royce Solutions last week to supply high-capacity battery systems. Another bidder, meanwhile, was excluded from the procurement over security concerns, Latvian Television's De Facto reported on February 18.
State Audit says recent reform has brought more work and no results
State Audit says recent reform has brought more work and no results
State Audit Office reported on February 16 after an audit of the penalty execution system that after a 2020 reform, which was supposed to make penalty execution more effective, institutions have ended up with more work and no improvements in penalty payment rate.
2023 saw some recovery in Latvian tourism sector
2023 saw some recovery in Latvian tourism sector
According to data published by the Central Statistical Bureau February 15, in 2023 the number of non-resident and resident visitors to Latvia comprised 2.44 million, which is 12.1 % more than in 2022.
Brewers rally for their beer necessities
Brewers rally for their beer necessities
The Latvian Society of Independent Brewers (LNAB), carrying big barrels, on Thursday, February 15, took a march from Aldaru (Brewers') Street in old Riga to the Saeima and Riga City Council to hand over letters asking to save the local beer industry, the LNAB reported.
Saeima decides on simpler mortgage switching process
Saeima decides on simpler mortgage switching process
On Thursday, February 15, with amendments to the Consumer Rights Protection Law, the Saeima facilitated the recrediting of mortgage loans to make the process simpler and cheaper. The Saeima also lifted the advertising ban on mortgage loans.
Eastern European farmers plan protests: Latvians might join in
Eastern European farmers plan protests: Latvians might join in
Representatives of farmers from Eastern and Central European countries have reached an agreement to hold joint protests against the agricultural policy of the European Union. Latvian farmers have reportedly also agreed to partake, Latvian Television reported February 15.
Construction industry saw stabilization last year in Latvia
Construction industry saw stabilization last year in Latvia
Last year, construction sector turnover was 3.2 billion euros, and compared to 2022, growth was more than half a billion euros. This year is not likely to bring such significant growth of turnover to the sector, rather stabilization, according to industry representatives surveyed by Latvian Radi February 14.
Rēzekne gets 5-million loan from state
Rēzekne gets 5-million loan from state
On Tuesday, February 13, the government supported the granting of a EUR 5 million loan to the bankruptcy-prone municipality of Rēzekne, on the condition that the municipality will only receive the loan once it has submitted a 2024 budget without a deficit approved by the Ministry of Finance. This must be done by February 21.
Last week's electricity prices were relatively high in Latvia
Last week's electricity prices were relatively high in Latvia
Last week, the price of electricity in Estonia rose by 55% to 99.51 EUR per megawatt-hour (MWh), while in Latvia and Lithuania it was EUR 96.45 per MWh, which is an increase of 50% against the previous week, Latvenergo representatives told LETA February 12.
Liepāja strives to expand its housing market
Liepāja strives to expand its housing market
Housing fund is one of the challenges in the city of Liepāja. Construction of new projects is very slow. Looking for a solution, modular houses will be offered in Liepāja, Latvian Radio reported on February 12.
Latvia's foreign trade figures were down in 2023
Latvia's foreign trade figures were down in 2023
Central Statistical Bureau (CSB) provisional data published February 9 show that in 2023 as a whole, the foreign trade turnover of Latvia at current prices reached EUR 42.14 billion – EUR 5.69 billion or 11.9 % less than in 2022.
Farmers will not protest in Rīga next week
Farmers will not protest in Rīga next week
There will be no farmers' protests in Rīga on Monday, February 12, but the next few weeks will be crucial to decide on farmers' next steps, said Juris Lazdiņš, Chairman of the Board of the Association “Farmers Saeima”, newswire LETA reports Friday.
Few sanctions breach cases reach court in Latvia
Few sanctions breach cases reach court in Latvia
Although several hundred criminal cases for violation of sanctions have been initiated in Latvia since Russia's full-scale invasion of Ukraine, only a tiny fraction – 22 cases – have reached the court. Seven judgments have come into force and the penalties are gradually increasing, Latvian Radio reported on February 9.
Solar energy generation tripled last year in Latvia
Solar energy generation tripled last year in Latvia
The total electricity distribution system-connected solar generation capacity was 300 megawatts (MW) at the end of 2023, three times the year before when it was about 100 MW, the State JSC "Distribution Network" (Sadales tīkls, ST) reported on February 8.
Farmers might continue protests in Rīga next week
Farmers might continue protests in Rīga next week
Latvian farmers are considering carrying protests over to the capital city Rīga next week. Farmers met with Prime Minister Evika Siliņa (New Unity) on Wednesday, February 7, and noted that this was a good first step towards achieving solutions. 
Effort to improve financial literacy of school pupils
Effort to improve financial literacy of school pupils
Free face-to-face classes will be organized in Latvian secondary schools with the aim of increasing financial literacy in the field of investments. 20 schools will participate in the first stage of the initiative, reported Latvian Television February 5.
Russian goods still found in Latvia's shops
Russian goods still found in Latvia's shops
One of the demands of farmers in the recent protests was to ban the sales of Russian and Belarusian food products in Latvian shops. Imports of food and agricultural goods from both countries have even increased over the past year and are still valued at hundreds of millions of euros. Traders' representatives indicate that there should be more pressure, Latvian Radio reported on February 7.
Gambling revenues up 9% last year in Latvia
Gambling revenues up 9% last year in Latvia
In 2023, the gambling industry revenues reached 288,633 million euros, up 9% from 2022, when gambling venues were still closed in the first two months of the year as a result of Covid-19 pandemic restrictions, according to the Lotteries and Gambling Supervisory Inspecorate's data on February 6.

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