Friday, the 12th of May, 2005
Rating remains at the same level
The international ratings agency Standard&Poors kept Latvian long-term credits rating in foreign currency at the present A- level. The rating of the short-term credit ratings in foreign and local currency is A-2. The stable development forecast is set for these indexes. Analysts think that good macroeconomic management, fiscal indexes and the willingness of the officials to deepen market economy reforms will promote the development.
Biznes & Baltija
Wednesday, the 11h of May 2005
Threat of liquidation
Next year the small food producers, especially in meat production sector, will have to fulfil stricter sanitary demands, which are required by the EU. It will cause many problems, and businessmen think that the second wave of liquidation could follow. Less than one year passed since the previous examination of the enterprises. The changes in sanitary requirements are also applied to the shopping malls.
Inflation growth in April is record high
In April 2005 the inflation exceeded the most pessimistic forecasts. According to the Central Statistical Bureau data, it reached 6.9% for goods and 7.2% for services. The steadiest increase was in medical services sphere. During four months of 2005 they became by 8.4% more expensive. Economists wonder that the government creates a basis for the inflation by the amendments to laws. On the other hand, it will have to make steps to stop the inflation growth as in 2008 the euro are supposed to be introduced in Latvia. The measures could be tax for mortgage credits and freezing the minimal salaries and not taxable minimal rate.
Monday, the 9th of May 2005
Latvians work longer
Latvian inhabitants, who work fulltime, in average work 43.3 hours per week. This is the highest index in the EU countries, where the maximal fulltime job should take 40 hours per week. Experts explain that the comparatively low level of life makes Latvians to work more. Not always the payment for overtime, which is defined in the Latvian legislation, is paid. The maximal amount of working hours is a political decision of every state.
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