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Tuesday 31.05.2016 | Name days: Jūsma, Alīda

Review of ministries’ expenditures helps «find» additional EUR 64 million

After an in-depth review of base expenditures of Latvia’s ministries, officials managed to «find» additional EUR 64 million. This will help expand the fiscal space of the next year’s budget, announced Finance Minister Dana Reizniece-Ozola on Tuesday, 31 May.

EP committee supports creation of European Border and Coast Guard Agency

On Monday, 30 May, European Parliament’s Committee on Civil Liberties, Justice and Home Affairs supported the creation of a system to manage European Union’s border security. The new European Border and Coast Guard Agency will be its centre. This agency will include the duties currently performed by Frontex and EU Border Guard.

Latvia’s GDP increases 2.1%

In Q1 2016, GDP at constant prices increased by 0.1% compared with Q4 2015. In Q1 2016, compared with Q1 2015, GDP grew by 1.5% according to seasonally adjusted data, and by 2.1% - according to seasonally non-adjusted data.

To prevent questionable procurement, Revalde turns to State Audit

In order to secure rational use of public funding allocated to Ventspils University College, Ventspils University College rector Gita Revalde has turned to State Audit with a request to carry out an inspection at the education institution.

Beginning of June will be warm; air temperature will decline sharply after that

The first days of June will not differ much from the last days of May. Nevertheless, Latvia’s meteorological situation will change sharply once colder masses of air flow into the country from the north.

Tusk: Many EU citizens not enthusiastic about bloc’s closer integration

Chairman of the European Union Council Donald Tusk has on May 30 noted that politicians believing in total integration of the European Union have disregarded the scepticism of European people and suggested that an open discussion on the future of the bloc was needed.

Supervisor calls to improve upcoming EU-U.S. «privacy shield» deal

In its current form, the EU-U.S. upcoming data protection deal would fail to ensure adequate protection of European data sent to the U.S. against surveillance measures, European Data Protection Supervisor evaluates.

Fat years return to the Bank of Latvia

More than EUR 1.5 million – this is the amount that was paid to the management of the Bank of Latvia in wages last year. In addition, it is only the visible portion of the bank’s expenditures: this impressive amount does not include service cars often used for personal needs, life and health insurance, paid education, vacation and other benefits, as reported by Diena.

Finance Minister surprised over Petersone's decision to step down

The resignation submitted by Director General of the State Revenue Service Inara Petersone on Monday, 30 May, came as a complete surprise, considering her honest work so far, said Finance Minister Dana Reizniece-Ozola, adding that a replacement for her has yet to be found.

Floods in Germany cause widespread damage

Four people have died and widespread damage has been caused by floods currently affecting southwestern Germany.

Saber Knight military exercises begin in Estonia

From 30 May to 9 June, Saber Knight brigade-level command military exercises organized by Danish division will be taking place in Tapa, Estonia. More than 120 soldiers from Latvia’s Infantry Brigade and other armed forces units will be taking part in those exercises.

Lithuania interested in importing Iranian natural gas

Lithuania has expressed readiness to import natural gas and crude oil from Iran, Iranian press reports.

Average wage growth in Latvia could be slower this year

In Q1 2016, average monthly gross wages and salaries in the country constituted EUR 827. As compared to Q1 2015, average wages and salaries grew by 5.3 %, moreover growth rate was lower than a year ago.

Aerodium opens an amphitheatre at the famous Shaolin Monastery

In cooperation with Chinese investors, Latvian Aerodium opens the world’s first flying amphitheatre. The Flying Dream wind tunnel is located in a unique place – in the middle of the Song Mountain not far from the Shaolin Monastery in China.

Standards & Poor’s affirms Latvia’s credit rating at A- level

International credit rating agency Standard & Poor’s affirms Latvia’s rating at A- level with a stable future outlook, reports the State Treasury.