Friday, the 6th of January, 2006
Latvia will not have euro in 2008
Latvian leading financial analysts believe that it would not be possible to introduce euro in Latvia in 2008, first of all due to the very high inflation level. According to Maastricht criteria, the inflation should not exceed 2.5%, while in Latvia this index exceeded 6%. However, the government is not going to postpone the transition to the European currency.
Biznes & Baltija
Thursday, the 5th of January, 2006
Economic freedom rating reduces
In economic freedom rating prepared by the institute Heritage Foundation and the influential newspaper The Wall Street Journal, Latvia occupies 39th place; the whole list includes 157 countries. Latvias rating was reduced by 11 positions in comparison with the previous year. The first places in the list belong to Hong Kong, Singapore, Ireland and Luxemburg.
Wednesday, the 4th of January, 2006
People go into business
According to Lursoft data, more than 11,000 new enterprises were registered in Latvia in 2005. This was a record number during the last 10 years. However, 8,646 companies were liquidated, which is also the highest index during the last seven years. Ltd. is the most popular form of business; however, in last couple of years more and more businessmen receive the status of individual businessmen.
Tuesday, the 3rd of January, 2006
Will reduce tax from 25% to 15% for small business
It is planned that starting from 2007 the rate of income tax for persons engaged in individual economic activity will reduce from the present 25% to 15%. The Latvian Ministry of Finance calculated that these changes could affect 72 thousand people. Due to this measure the state budget could lose LVL 4.2 million. On the other hand, the budget could also have additional incomes because more businessmen will honestly pay all the taxes.
Biznes & Baltija
Monday, the 2nd of January, 2006
Salaries and social support to grow
In 2006 it is planned to raise salaries in different sectors. The minimal salary will grow, as well as pensions. Doctors will receive in average by EUR 53.35 more per month, teachers by EUR 28 more, but judges salaries are supposed to increase most significantly.
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