Posts published in Day: September 9, 2021

The economy will grow by 9.5 percent this year

Thursday, September 9, 2021

The economy will grow by 9.5 percent this year, the finance ministry says, and by 4 percent in 2022. The ministry says inflation will be 3.8 percent this year, slightly lower in 2022 and substantially lower (around 2 percent) in 2023-2025. Speaking at a press conference Thursday announcing the ministry’s summer economic forecast, finance minister Keit Pentus-Rosimannus (Reform) said: “Our economy has recovered at a rapid pace, and we are…

In July 2021 the foreign trade turnover of Latvia amounted to EUR 3.06 billion

Thursday, September 9, 2021

Provisional data from the Central Statistical Bureau (CSB) show that in July 2021 the foreign trade turnover of Latvia amounted to EUR 3.06 billion, which at current prices was 27 % larger than a year ago. The exports value of goods was 25.5 % higher, but imports value of goods – 28.1 % higher. In July Latvia exported goods worth EUR 1.33 billion, but imported in the amount of EUR 1.73 billion. Compared to July 2020, the foreign trade balance worsened slightly as exports in total foreign…

Fitch provied a fairly upbeat assessment of Latvia’s economic outlook

Thursday, September 9, 2021

Rating agency Fitch provied a fairly upbeat assessment of Latvia’s economic outlook September 3 in maintaining its current ‘A-‘ rating of the country and reaffirming a stable outlook while increasing its 2021 GDP growth projection from 3 % to 4 %. “The Stable Outlook reflects a degree of confidence that the economy will remain resilient to the ongoing coronavirus pandemic risks and that the authorities will implement policies that are consistent…

Latvia: 500 new Covid-19 cases Thursday

Thursday, September 9, 2021

On Thursday, September 9, Latvia recorded 490 new cases of Covid-19 infection, according to the Disease Prevention and Control Center (SPKC). Of the total number of positive cases, 419 were unvaccinated persons, or persons not fully vaccinated, and 71 were fully vaccinated. The total number of cases detected since the start of the pandemic now stands at 145,893. Of 42,449 tests carried out in the past 24 hours, 1.2 % were positive. The 14-day cumulative infection rate per…

Trade increased for fifth month in a row

Thursday, September 9, 2021

In July, exports of goods increased by 29 percent and imports by 27 percent year on year, data from Statistics Estonia shows. Trade growth was significantly influenced by the increase in the exports and imports of mineral fuels and base metals and articles of base metal. In July, Estonia’s exports of goods amounted to €1.5 billion and imports to €1.7 billion. The trade deficit was €157 million, which is €17…

Eight people’s attempts of illegally crossing the Latvian-Belarusian State border

Thursday, September 9, 2021

On Wednesday, September 8, another eight people’s attempts of illegally crossing the Latvian-Belarusian State border were prevented. No people were detained for having crossed the border illegally. Since the announcement of the    state of emergency   on the Latvia-Belarus border August 10, the Border Guard has prevented 1,013 persons from crossing the border. 377 persons have been detained for illegally crossing the border this year, 295 of which came in the time…

Bicycle plastic poles are here to stay

Thursday, September 9, 2021

While there are still ongoing experiments in the urban environment, it is clear that plastic poles are here to stay. Although there was a  storm of opinions about the bicycle lane-separating poles in the city this summer, Jānis Vaivods, representative of the Rīga City Council traffic department, said that the problems were smaller than they seemed at first. “If we are talking about Tērbatas Street, this experiment clearly showed that the technical means of…

Baltic Assembly holds a meeting on the migrant crisis

Thursday, September 9, 2021

On September 9 and 10, delegations to the Baltic Assembly are in Lithuania to participate in the meetings on the migrant crisis on the borders of Latvia and Lithuania, among other issues. The BA Presidium will meet the Minister of Foreign Affairs of Lithuania Gabrielius Landsbergis, the current Chairman of the Baltic Council of Ministers (BCM), to discuss cooperation between the BCM and the BA, and the implementation of the recommendations made to the Governments.…

People in Latvia are among the most highly-stressed in the developed world

Thursday, September 9, 2021

Research by a home loans company suggests that people in Latvia are among the most highly-stressed in the developed world when it comes to their finances. The research by Compare the Market analysed Organization for Economic Cooperation and Development (OECD) member countries on factors such as average salary, unemployment rate, average house prices, average monthly rent and average monthly cost of living, to draw up a list of the most, and least, financially…

Printify announced that it has secured a further $45 million

Thursday, September 9, 2021

Printify , a Latvia-founded print on demand company, announced August 9 that it has secured a further $45 million from various investors to finance its future activities. “Printify will use this investment to further expand its marketplace globally,” the company said in a release. Headquartered in Latvia, the company employs around 500 people. “Our vision is to transform ecommerce from mass manufacturing to on-demand production, eliminating excess stock and reducing environmental waste,” said Jānis Berdigans, founder…