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Wednesday 17.07.2019 | Name days: Aleksejs, Aleksis

Bank of Latvia: Parex Bank does not meet criteria to be freed from mandatory reserves

Currently, Parex Bank does not meet a single criteria to be freed from making mandatory reserves, the Central Bank announced after reviewing Parex Bank's request to relieve it from making mandatory reserves to use these funds for the syndicated loan repayment.

State Social Insurance Agency urges criminal proceedings on alleged fraud in Latvian Shipping Company

As a 10% shareholder at the state-owned public joint stock entity Latvian Shipping Company, the State Social Insurance Agency has filed an application to the State Police Economic Crime Combat Administration, the State Revenue Service and the Prosecutor General’s Office, calling for an assessment of possible fraud and tax evasion.

Finance Minister: euro not to hamper Latvia’s stability

The euro introduction is the only way out of crisis and it will conclude the previous work, the Finance Minister Andris Vilks indicates, adding that the euro cannot interfere with Latvia’s stability in any way.

Working on weekends complies with international rigths

If workers are employed on Saturdays and Sundays, as well as on holidays, they are ensured the protection stipulated by the European Union – the right to recreation at another time, indicates Elīna Egle, Director General of the Latvian Employers' Confederation.

Construction costs drop 0.6%

Compared to February 2011, construction costs in Latvia dropped 0.6% on average in March this year. Costs of machinery and equipment maintenance grew 1.8%, while construction materials prices – 0.1%. Labour remuneration fell 5.2%.

Swedbank: fiscal policy needs improvements

The state budget situation is improving faster than expected and this year the government plans to reduce the budget deficit more rapidly than it was projected when approving the 2011 state budget, Swedbank indicates.

State Revenue Service forfeits millions of lats on electronic system errors

Several millions of lats are lost due to problems with the State Revenue Service Electronic Declaration System.

Expert: tax rise limits individual freedom

Latvia should turn much more attention to economic security issues, says Aivis Ronis, Latvian-American financial forum President, adding that we cannot achieve that with mere figures.

85% of Latvia households faced difficulties with covering daily expenses last year

Last year, 85% of Latvia households (82% in 2009) had difficulties with settling daily expenses: 23% of them found it very difficult to cover the necessary daily expenses (in 2009 – 18%), 32% had difficulties with payment settlement (in 2009 – 31%).