Pony Express has announced its entry to the European market. Its first office will be opened in Riga, company representatives say.
Finance Ministry has decided to increase the government debt outlook in Latvia’s Stability programme 2017-2020 for the current and future years.
Latvia should watch out for the so-called Estonian model’s introduction in the country’s tax system, says World Bank senior economist Emilija Skroka. World Bank experts are sceptical about this idea.
The enactment of Lithuania’s new Labour Code has been put off for six months, but, now, seemingly all roadblocks have been removed to enacting it from July 1 after the country’s Trilateral Council, consisting of Labour Unions, Government and employer organizations, agreed on the final redaction of the bill.
On Wednesday, 12 April, a joint meeting of the joint Latvian-Kyrgyzstan transport work group was held in Transport Ministry. At the end of the meeting, the two sides signed an agreement for closer cooperation between the two countries in transport, transit, logistics and aviation, BNN was told by the ministry.
Although Estonia does not recognize Lithuania’s LNG terminal in Klaipeda as a regional facility and wants to build its own terminal, Eesti Energia manager Hando Sutter admits that Klaipeda terminal already functions as a regional one.
It is important to note that a major export value increase was noted in February – by 10.1%. This was largely thanks to growth in exports of transport and other services. With that, service export surplus grew to EUR 175.7 million, fully compensating foreign trade deficit, Finance Ministry comments on data from the Central Statistical Bureau of Latvia.
The government has approved Latvia’s Stability programme for 2017-2020, which provides for increasing Latvia’s GDP to 3.2% in 2017 and 3.4% in 2018 at unchanged policy. For 2019 and 2020, on the other hand, it is planned for GDP growth rates to come close to the potential growth level, as predicted by Finance Ministry.
On Tuesday, 11 April, the Cabinet of Ministers supported continuation of talks with Conexus Baltic Grid shareholders about a possible procurement of shares in the company.
Latvia’s national economy would lose nearly 47 million euros from increased VAT on accommodation sector, as reported by Economy Ministry.
In February 2017, Latvian foreign trade turnover amounted to EUR 1.82 billion, which was 6.1 % higher than in February 2016, and the exports and imports values of goods were 5.7 % and 6.5 % higher, respectively.
There are multiple flaws in Latvia’s tax system. Low tax collection is caused by high grey economy proportion, not low tax rates. The tax burden for honest taxpayers in Latvia is rather high. This especially applies to labour tax, economist Uldis Rutkaste says about Latvia’s tax reform.
A U.S. federal institution has quit its request to the micro-blogging site Twitter to unveil the identity of users, who have criticised the policy of U.S. President Donald Trump.
Digital marketing agency Ad Fingers has become the new partner of Samsung Electronic Baltics in all three Baltic States.
Aleksandrs Kazackovs was appointed as a member of the board of LDz Cargo on Monday, 10 April. He was previously the director of LDz Cargo Legal and Administrative Affairs Department.