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WEEK 5.2006

Friday, the 3rd of February, 2006

Enterprises among EBRD priorities
In 2006 the main priorities of the European Bank for Reconstruction and Development (EBRD) in Latvia will be infrastructure, financial sector and investments into the development of enterprises. EBRD director in Latvia, Salvatore Kandido, pointed out that the most perspective companies would be supported, as well as the process of privatization of enterprises which still partially belong to the state.

Thursday, the 2nd of February, 2006

Do you want euro? Reduce expenses
The EC believes that Latvia and Estonia should work more on limiting inflation level and budget expenditures. It means that Brussels doubts about the possibility of two Baltic countries to introduce euro in 2007 (in Estonia) and 2008 (in Latvia). According to Maastricht criteria, the inflation in countries which plan to introduce euro should not exceed 2.6%. In Latvia this index is 7%, but in Estonia 4%.

Wednesday, the 1st of February, 2006

Riga overachieved budget of 2005
Even though the budget deficit was planned for Riga’s budget for 2005, the year’s balance was positive. Incomes exceeded expenditures by EUR 4 million, according to the Financial Department of Riga City Council. The total volume of incomes in 2005 grew by EUR 70.42 million in comparison with 2004.
Dienas Bizness

Tuesday, the 31st of January, 2006

Banks have record high profit
In 2005 non-audited profit of the Latvian banks constituted EUR 275.71 million. Hansabanka was the first one according to the volume of assets, Unibanka was the second, but the previous leader, Parex banka, was the third one. According to the Association of Latvian Commercial Banks, the total volume of issued credits increased by EUR 3.68 billion and reached EUR 9.94 billion. Hansabanka was the leader in mortgage crediting.
Biznes & Baltija

Monday, the 30th of January, 2006

New oasis on EU map
Experts of Latvian branch of Nordea bank announced: the Baltic States and Poland have an opportunity to become an economic centre of Europe in next 20–25 years. The average GDP growth in the Baltic States and Poland in 2005 increased by more than 8% compared to 2004. Latvian economy was one of the most intensively developing in the EU during the last three years. The economists of Latvian branch of Nordea bank are convinced that negative tendencies are temporary and have little effect on the economic development in the Baltic region.
Biznes & Baltija

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