Sep 09, 2010 - Rising food prices expected...
RIGA - A significant increase in food prices is expected in Latvia in the coming months, according to information from the Agricultural Market Promotion Center, reports Nozare.lv. “Regardless of warm and sunny weather in Latvia, there have been various natural disasters elsewhere in the world. Prices for key food commodities have increased on global markets. Latvia will be no exception, and prices for food products will increase in the c...
Sep 09, 2010 - Fitch boosts Latvia’s rating...
RIGA - Latvia’s credit rating outlook was raised to “stable” by Fitch Ratings after the government got under control a spiraling budget deficit and stabilized the economy following the European Union’s deepest recession, reports Bloomberg. The improvement means Fitch is more likely to leave Latvia’s BB+ rating unchanged than raise or lower it, Fitch said today in a statement. The rating, one step below investment ...
Sep 02, 2010 - Corner has been turned, says IMF...
RIGA - The economic crisis in the Baltics, the region which suffered the European Union’s worst recessions last year, is easing and the growth prospects are looking up, the International Monetary Fund said on Aug. 26, reports Reuters. The pace of expansion will depend on how quickly the trio of states, which are still feeling the effects of a painful fiscal adjustment, can develop their export sectors and further improve their competitiv...
Sep 02, 2010 - Taxes to rise for Latvia, Lithuania...
RIGA - Estonia is the only Baltic country where the government can promise residents that the tax burden will not increase; the governments of Latvia and Lithuania can make any promises they want, but it is clear that the tax burden in these two countries will increase in the coming years, Nordea bank chief economist Andris Strazds said during a video press conference on Aug. 30, reports Nozare.lv. Strazds stressed that neither Latvia nor Lith...
Sep 01, 2010 - Exports provide welcome bounce to economy...
VILNIUS - The Lithuanian economy expanded at a revised 1.3 percent pace from a year earlier in the second quarter as export growth and manufacturing picked up, reports Bloomberg. The figure compares with a preliminary estimate of 1.1 percent announced July 28 and a 2.8 percent contraction in the first quarter, the Vilnius-based statistics office said on Aug. 27 in an e-mailed statement.
Gross domestic product increased a seasonally adjuste...
Sep 01, 2010 - Economic numbers improve across the board...
TALLINN - Estonia’s Ministry of Finance stated on Aug. 30 that the real growth in the productivity rate – added value per employee – was positive for the third quarter in a row in the second quarter of 2010, reports Postimees Online. The real growth in the productivity rate reached 9.2 percent in the second quarter.
Analysts at the ministry estimate that the imbalances on the labor market that emerged during the boom years ...
Aug 26, 2010 - V-shaped recovery not likely...
TALLINN - Analyst at Swedbank Estonia Maris Lauri stated that while the data showing economic growth indicates that the crisis is over, it is difficult to further increase exports, and not all problems have been put behind us, reports National Broadcasting. She stated in an interview with National Broadcasting that the fact is that Estonia’s economy has started growing for the first time after seven quarters of decline.
“Natura...
Aug 26, 2010 - Rail freight numbers down...
RIGA - Volumes of freight carried by rail in Latvia fell by 10.6 percent in the first seven months of 2010, with a total tonnage of 29.1 million tons carried; however, there was a significant increase in internal traffic, according to information provided by the Transport Ministry, reports Nozare.lv. The internal freight transportation situation has changed significantly. While in the first six months of the year the volume of internal traffic...
CLASSIFIEDS