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Monday 16.07.2018 | Name days: Hermīne, Estere

Egle: we should focus on the reduction of shadow economy

In order to improve the economic situation, it is necessary to concentrate on the public expenditure cuts and reduction of shadow economy, because, currently it is too large, considers the Employers’ Confederation of Latvia (ECL).

Fitch Ratings raises Latvia's credit rating future assessment

International rating agency Fitch Ratings has reestimated Latvia's rating and raised it from negative to stable.

Current account surplus reduces – economy recovers

On account of a significant drop in foreign direct investment companies’ losses, the surplus in the current account of Latvia's balance of payments has decreased in the second quarter of 2010.

In month’s time industrial output increased by 2.3%

The data of Central Statistical Bureau (CSB) indicate that, after comparing the indicators of June and July 2010, the industrial production output, according to seasonally adjusted data at constant prices, has grown by 2.3%.

Online shops recover from crisis; new participants enter market

Online shops in Latvia are gradually recovering from the recession, and more participants are entering the market, pointed out the surveyed industry experts and representatives.

Medicinal expenses to increase by 10 million a year

After the value added tax (VAT) rate of 21% is applied to medicinal products, the inhabitants would be forced to spend at least 10.53 million lats more, informed the public relations specialist of the State Agency of Medicines (SAM), Sanita Skaidra (Sanita Skaidrā).

Bread to become more expensive

In a month's time bread will cost two or three santims more than currently.

AD Baltic last year turnover grew by 7%

One of the leading auto parts wholesalers in Latvia SIA Baltic AD last year's turnover increased by 7%, reaching 5.84 million lats. SIA Baltic AD volume of production dynamics show 7% increase, when compared to the previous year. Moreover, the company's turnover growth in the wholesale niche (without providing non unauthorized services) is even higher - 13%.

Flat price growth remains the same in August

The average price growth of commercial flats in Riga has remained small but steady in August. The average price reaches 582 euros per square meter.

The Latvian Shipping Company: low point phase is over

According to the concern A/S Latvijas kuģniecība (The Latvian Shipping Company) semi-annual report, company’s loss in the first six months of 2010 has reached 25.2 million dollars (13.9 million lats).

If files complaint against SFS insurance tender

The insurance company If P&C (If) has filed a complaint to Latvian Procurement Monitoring Bureau (LPMB) concerning the results of The State Forest Service(SFS) public tender for its employees' health insurance.

Kampars: In four years there will be 50 firms per 1000 inhabitants

The implementation of microenterprise support programs will enable a qualitative leap in business activity indicators in the following four years, and ensure that the amount of enterprises per 1.000 inhabitants in Latvia at least reaches the average ratios of European Union (EU).

Zigurs: debts will be paid until next heating season

The amount of Riga residents heat debt amounts to 5 million lats, but it will be paid by the beginning of the next heating season, states the Chairman of Rīgas Siltums Aris Zigurs (Āris Žīgurs).

Expert: wages will go up next year

The economy expert of Latvijas Banka, Olegs Krasnopjorovs (Oļegs Krasnopjorovs), maintains that in the next year a sustainable salary growth is awaited in Latvia, as entrepreneurs will return to the initial premium wage system.

Skonto būve half-year consolidated profit - 6.98 million lats

Last year, the construction company Skonto būve consolidated profit after taxes and before minority interests amounted to 6.98 million lats.