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Wednesday 18.09.2019 | Name days: Liesma, Elita, Alita
LatviaLatvia

Latvian Post to require a loan of 10.5 million due to euro adoption

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUStarting from January 2014, in accordance with the lat-euro free exchange initiative, residents will be able to exchange these currencies free of charge at Latvian Post branches located in low-populated areas for a period of three months. It is estimated that the total volume of euro exchange could be near EUR 14,94 million.

Latvian Post will require a loan in order to afford this service until euro becomes a fully legal and abundant means of payment. Latvian Post will require a loan from the state budget’s short-term loan fund, Finance Ministry explains.

FM has come up with a special law to clarify the second stage of early euro supply to Latvian Post and secure the necessary conditions for the successful progress of the early euro exchange initiative. The bill has been added to the agenda of today’s state secretary meeting. It will need to be approved by the government and parliament.

The bill provides for the issue of of a short-term loan to Latvian Post. It states that the Finance Minister is to sign an agreement regarding the issue of a LVL 10.5 million loan to Latvian Post this year.

The conditions of the loan are as follows: loan pay back term – March 31, 2014; the loan is to have a set interest rate in accordance with the loan issue and service order; the loan is not to be fitted with a risk interest rate; it is to be provided without security for the loan.

The completion of the agreement will be monitored by the State Treasury. The Transport Ministry will oversee the use of the loan money. Latvian Post will need to pay back the interest from the 2014 state budget to cover the costs of Transport Ministry’s supply of exchange currency, as mentioned in the bill.

Ref: 102.109.109.8616


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In the first eight months of 2019 Latvia’s State Revenue Service has collected EUR 6.446 billion for the state budget, which is 0.3% or EUR 20.899 million more than previously planned, according to published information.

Amnesty International awards teenage climate activist Thunberg

Amnesty International, which describes itself as the world’s largest human rights organisation, has given its Ambassador of Consciousness Award to Swedish schoolgirl, who has inspired the mass weekly demonstrations calling for climate-conscious policy reforms.

Citskovskis: wages in public administration should reach 80% of private sector’s

In the development of a new remuneration system in public administration, one of the goals is achieving that wages in public administration reaches 80% of the remuneration level in the private sector, said the head of Latvia’s State Chancellery Jānis Citskovskis in an interview to Latvijas Radio.

EU to discuss Brexit with UK each day, Johnson still pushing to leave on October 31

A high-level Brexit meeting has been held by the European Commission President Jean-Claude Juncker and the British Prime Minister Boris Johnson, where the officials have agreed to make meetings more frequent with October 31 as the deadline.

Investigation of intestinal infection leads FVS to vegetable processing shop in Jelgava

While investigating the cause behind the intestinal infection in Sigulda, Latvia’s Food and Veterinary Service has shut down a vegetable processing shop in Jelgava, as confirmed by the service.

Ukraine planning surge in military spending as war continues

Amid preparations for Donbas War talks in the Normandy format, Kyiv has announced a draft national budget that would include a 16%-hike in defence spending.

Latvia’s number of vacant job above EU’s average in second quarter of 2019

In Q2 2019, the number of vacant jobs in Latvia was above the average of European Union and Eurozone, which is reflected in percentage ratio between the total number of jobs – both taken and vacant.

Estonia worried West’s loosening grip on Russia could end in third intervention

Amid concessions to Russia in the OSCE and calls to invite it to the G7, Estonian Foreign Minister has spoken against the possibility of lower European Union’s principles against Russia, which could encourage Moscow to carry out third interventionist adventure.

19 children and four kindergarten employees show signs of intestinal infection

By Sunday, 15 September, symptoms of intestinal infection were found for 23 people, including 19 children and four kindergarten employees in Sigulda and its surrounding areas, as reported by Disease Prevention and Control Centre.

Number of vacant jobs in Latvia up 5 900 or 23.8%

In Q2 2019 there were 30.5 thousand job vacancies in Latvia, which is 5.9 thousand vacancies or 23.8 % more than in Q2 2018. In public sector there were 8.6 thousand and in private sector 21.9 thousand vacant jobs.

Europe’s electricity network will help increase energy exchange opportunities

After Baltic States’ joining of the European Electricity Network, there will be an increase for opportunities in energy exchange and trade, says AS Augstsprieguma tīkls board member Varis Boks.

Tartu retail battle: Maxima objects being shoulder to shoulder with Lidl

In the city of Tartu, Lithuanian grocery retail chain Maxima is not satisfied with the local zoning plan that could see the first shop of its low-price competitor Lidl be opened close to its property.

Unemployment benefits in Latvia to be paid for eight, not nine months

From now on unemployment benefits in Latvia will be paid for eight, not nine months. The total amount is cut, thereby allowing Welfare Ministry to save EUR 12 million, said minister Ramona Petraviča in an interview to LTV programme Rīta panorama.

Transport pollution: Paris planning 500 subsidy to e-bike purchase to millions

As France aims to reduce its air pollution, greater Paris is considering a massive subsidy programme to millions of its inhabitants to the purchase of an electric bike.

Polluted areas in Riga disappear from registers; builders often relieved of clean-up

Polluted territories in Riga have a tendency to disappear from registers of such territories. Often this results in builders being relieved of the responsibility of construction restrictions and the duty to clean polluted territories, as reported by public broadcaster TV3 programme Nekā Personīga.

EU: Progress in Brexit talks not «huge» as PM Johnson says it is

«Huge progress» – these words were used by British Prime Minister Boris Johnson to describe the state of Brexit talks before he travels to Brussels hoping to overcome the Irish backstop problem. European Commission however is yet to receive alternative proposals to speak of.

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