Latvija in brief - 2010-02-24

Feb 24, 2010

The overall consolidated state budget for January of this year had a surplus of 70.7 million lats (101 million euros), according to the State Treasury’s official data on fulfillment of the budget, reports LETA. Budget revenue came to 411.9 million lats, while expenses were 341.2 million lats. Revenue in the basic state budget came to 273.8 million lats, while expenses were 210 million lats, giving a surplus of 63.8 million lats. Meanwhile, revenue in the special state budget was 98.5 million lats, with expenses of 99.9 million lats, producing a 1.4 million lat deficit. Consolidated local government budget revenue in January was 80 million lats, with expenses of 73.4 million lats, creating a 6.6 million lat surplus. The state taxation plan for January was 99.6 percent fulfilled, according to the State Revenue Service. Altogether, taxation raised 302.2 million lats for the state budget last month. The target amount had been set at 303.55 million lats.

On the afternoon of Feb. 21, a second baby was left in the ‘baby hatch,’ or ‘baby box’ at the Children’s Clinical University Hospital, said hospital representative Romena Namniece, reports LETA. This time, it was a girl, approximately ten days old. The baby’s mother left no note about the girl’s name or date of birth, or any other information. The girl is healthy, she weighs 2.7 kilograms. Doctors say that she’s a happy baby and is eating well. The first baby in the Children’s Hospital baby hatch was found on Dec. 23 last year. The little boy’s mother left a note, with the birth date, weight, blood-type and vaccines, as well as left some diapers and bottles with food. A few days later a family visited the hospital with the aim to adopt the infant. The baby hatch was unveiled on Sept. 8 last year.

Residence permits for ‘large-scale’ investors, for a period of up to five years, will be available from July 1 this year, in accordance with a bill approved on Feb. 23, by the Saeima’s Security, Internal Affairs and Corruption Prevention Committee at the final reading of the Law on Immigration, reports LETA. These permits will be available to persons who hold investment capital of no less than 25,000 lats (35,700 euros), have created five new jobs which provide full-time employment to a workforce of at least 50 percent Latvian citizens, Latvian non-citizens, citizens of European Union member states or European Economic Area states, and also who pay taxes of at least 10,000 lats a year into the state or local government budgets. It will also be possible to grant residence permits of up to five years to persons who have acquired real estate where the total sum of the transaction was more than 100,000 lats. Until now it has only been possible to grant residence permits of up to five years to persons who had 2,000 lats invested in company shares and who had signatory rights. The originators of the amendment hope that it will encourage investment in Latvia and the creation of new jobs, as well as stimulate real estate markets. This despite the fact that excessive and speculative real estate investment was one of the factors leading up to the current economic crisis.

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