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Sunday 26.05.2019 | Name days: Varis, Eduards, Edvards

Majority of kroon coins left to Estonians

Since last October nearly 243 tons of coins, worth 40 million kroons, have been submitted at the Estonian banks, yet Estonia’s residents still own many coins with the total value exceeding 100 million kroons.

Court employees demand equality principle in salary determination or they will strike

More than 20 Latvia’s District (City) courts and the Land Register Department employees have filed letters to high-level officials, requiring to prevent inobservance of legal norms and principles and ensure the equality principle in remuneration.

Rudolf Meroni: Litasco is running out of time; Ventbunkers will store fuel oil offshore

Litasco has only a few days left to lift their fuel oil from VBU terminal before the first vessel, chartered by VBU, arrives in Ventspils port later this week to store the fuel oil offshore on account of Litsaco.

Heating cost 45% more in December

December heating costs in Riga will amount to 45% more than a year ago, the Riga City Council told the business news portal BNN.

Meat processors and traders caught dodging taxes

January came with the State Revenue Service (SRS) Financial Police Department (FPD) discovery of a scheme implemented by a meat processing company and meat product store chain owner. They avoided tax payment by reprogramming electronic cash registers and indicating a reduced value or quantity of goods in the consignment notes.

Economist: money supply in economy rises 3.5%

Last December, the volume of money in circulation continued to rise, reaching the highest monthly growth rate since December 2009, the economist at the Bank of Latvia Vilnis Purviņš informs.

Millions spent on emergencies

Last year, 2.5 million lats was spent from the budget program on unforeseen events – in particular on flooding and fire. The remaining funds, which comprise more than 70 million lats, were directed to politically significant, yet barely priority measures.

Credit agreement necessary before EU funds are granted

In order to conclude an agreement on project implementation with the European Union (EU) support, a previously approved credit agreement will be necessary, according to the government's approved amendments to the activity «Development of new products and technologies – support for the introduction into production of new products and technologies».

State Chancellery’s function audit purely theoretical

Upon assessing the function audit carried out by the State Chancellery on the administrative burden reduction and procedure simplification in the education system and business, the Saeima members concluded the results are purely theoretical and no practical solutions are provided, the business news portal BNN was informed by the Saeima.

Latvian economy to grow 3% this year

This year the Latvian economy will spike about 3%, while export, having surged 29% in 11 months last year, will still be the key economic driving force, the senior economist at AS Nordea banka Andris Strazds indicates in a press video conference.

Vilks: budget deficit should be reduced to 5% of GDP

This year Latvia will continue to take steps to reduce the state budget deficit to 5% of the gross domestic product, the Finance Minister Andris Vilks indicated in Euromoney Central and Eastern Europe Conference in Vienna.

Economist: Estonia should take a loan

Given that Estonia’s financial position is more than stable, it should take an interest-free loan for the infrastructure development, education provision, and unemployment reduction, the Dutch economist Edin Mujagic says.