Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 49.2005

Friday, the 9th f December, 2005

Inflation goes down
In November 2005 the level of inflation was less than expected, 7.4%. The significant increase in bread prices influenced this index most of all. Besides, in November people had to spend by 9.5% more money for fruits, by 3.2% more for heating, by 3.8% more for water supply and by 9% more for canalization. Experts forecast that in the nearest months food products and fuel will become more expensive.

Tuesday, the 6th of December, 2005

Great Britain suggests reduction of financial assistance to the new EU member-states, including Latvia, in the EU budget
On December 5, the UK Presidency offered to reduce the EU budget for 2007-2013, drafted by the Luxemburg presidency, by EUR 24 billion, which means that the financial help to the new member-states could be reduced by 9%. The EU institutions severely reacted to this suggestion. The European Comission stressed that it should be honest towards the new MS. The EC President, Jose Manuel Barroso, said that such a suggestion could not be accepted; it was a budget for a mini-Europe, not for the strong Europe which we needed. Latvia reacted to UK’s suggestion negatively.
Neatkariga Rita Avize Latvijai
10 years record is broken
In November 2005 the record number of new companies during the last ten years was registered in Latvia, 1,046. Experts explain this boom with the end of reform, which was stipulated by the Commercial law, as well as with the unwillingness of businessmen to move from the Enterprises Register to the Commercial Register. This tendency probably will remain until Latvia reaches the EU level.
Neatkariga Rita Avize Latvijai

Monday, the 5th of December, 2005

Sixth highest unemployment level in the EU
In October 2005 the aligned unemployment level in 25 EU-countries was 8.5%, the same as in September. According to data of the statistical bureau Eurostat, in Latvia this index reached 8.7%, which is the sixth highest in the EU.

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