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Tuesday 21.01.2020 | Name days: Agne, Agnese, Agnija

WikiLeaks: last year Sweden gave 50% chance – Latvia will face economic collapse and devalue the lat

When meeting with the US ambassador in the autumn of 2009, Sweden’s Finance Minister Anders Borg expressed confidence – there is a 50% chance that the lat will be devalued by the end of the year and the Baltic States will experience an economic collapse, which could affect the whole region; therefore, the US should use its influence on other countries to prevent this.

Latvia ranks 4th in terms of low-priced hostel accommodations

Latvia ranks in the fourth place in the top 10 list of Europe’s cheapest hostel accommodation prices, offering tourists lodging for 3.30 lats per night, suggests the survey carried out by livinginahotel.com.

Facebook users call for Statoil and Neste boycott

The social network Facebook has launched a campaign whose initiators call for car drivers to boycott Statoil and Neste petrol stations.

Household gas tariffs to be smaller the next year

In January 2011, the gas tariffs for households in Latvia will become cheaper; moreover, they could also reduce for the major consumers, Latvijas Gāze Press Secretary Vinsents Makaris revealed to the business news portal BNN.

Latvijas Gāze approves new gas price calculation agreement

The company’s Latvijas Gāze Council has approved the new gas price calculation agreement for next year, which will be also signed by the Russian gas utility Gazprom this year.

External trade turnover grows by 26.5% during year

The total external trade turnover at constant prices formed 986.8 million lats in October this year - which is 2.1% or 21.5 million lats less than in the previous month, while 26.5% or 206.6 million lats more than in October 2009.

Lithuania adopts 2011 budget

The government of Lithuania has adopted the next year's budget. Despite the state's economy has stabilized, the government is still cautious as the economic downfall is not past yet, therefore pensions and public sector salaries will not return to the pre-crisis level any time soon.

47% of Latvia’s population hope for higher pension age income

Nearly half, or 47% of Latvia’s population hope their income at retirement age will be higher than currently.

Riga public transport not to become more expensive in 2011

Although public transport services will claim 7% more funds from Riga City budget, the tariffs will not be increased, moreover it is planned to keep all the current discounts.

Insurance policies price climb expected next year

Insurance policies price will surge in 2011, while the process will not be excessively rapid, says the insurance company ERGO Board member in the Baltics Deniss Sazonovs.

Latvia budget cuts are not big, compared to other states

Compared to budget cuts of other states, Latvian 590 million lats for the following two years seems not than big sum after all.

State administration to allow employee financial motivation

Starting from the next year, the employees financial motivation system in the state administration will be resumed, as well as the possibility to receive 30% premium in addition to the salary.

Russian Central Bank might hike interest rates

Russian Central Bank has announced it might raise interest rates in the first quarter of 2011, thus indicating that the focus of policy makers is shifting to inflation, although the recovery from the last year's downfall is still slow.


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