Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 18.2005

Friday, the 5th of May, 2005

Criminal responsibility for juridical persons
The Latvian government made a serious step in fight with the economic crimes. According to the amendments to the Criminal Code, starting from October 1, 2005, if the juridical persons are admitted to be dangerous for the society, they could be liquidated. Their property could be confiscated, if necessary, and they may pay penalties. According to the experts forecasts, in the beginning some five cases considering the juridical persons could be investigated and examined per year.
Biznes & Baltija

Thursday, the 4th of May 2005

Promise e-signature in March
In Latvia e-signature could be introduced in the end of February or in the beginning of March in 2006. According to the schedule of introducing it, submitted to the Latvian Government, the first users will be Latvijas Pasts and Lattelekom. It is also possible to create a special marketing agency, which will popularize using the e-signature among the inhabitants.
Dienas Bizness

Economists: limiting inflation will be more painful than postponing euro
The economists forecast that measures for reducing the inflation level in Latvia could be more painful than postponing the introduction of euro for several years. Most probably it would not be possible to introduce euro in 2008 without the unpopular decisions of the government: these could be tax for credits, freezing the salaries of those who work in the public sector etc. At present high inflation level is the only criteria, which does not correspond to the EU requirements.

Tuesday, the 3rd of May 2005

Latvian inhabitants hide “in shadow” 1.33 billion lats
The Corruption Prevention and Combating Bureau, KNAB, insists that the government should accept the conception on the control improvement over the incomes of physical persons. KNAB proposed to introduce the obligatory declaration of the incomes. Specialists supported this idea; they think that inhabitants are paid more than they say.
Kommersant Baltic Daily

Monday, the 2nd of May 2005

Transition to euro: start is given!
In the end of the previous week Latvian currency, lat, was included into European currency rate mechanism II. This is the first stage of 2-years transition to euro. The President of the Latvian Bank, Ilmars Rimsevics, explained that for two years Europe will follow Latvia’s indexes, stability of its economy and macroeconomic results. The main conditions are the following: Latvian state debt should not exceed 60% of GDP, state budget deficit should not exceed 3% of GDP, and inflation should not exceed the average European level for more that 1.5%.
Kommersant Baltic Daily

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