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Latvia Business News: Archive 2003-2006

WEEK 27.2006

Thursday, the 6th of July, 2006

Next year the EU electrical energy tax will be implemented
Next year in Latvia the tax for electrical energy and coal according to the directive of the European Union norms should be implemented. Latvian Ministry of Finance stated that the tax for electrical energy has to be EUR 0.25 per megawatt if it is used in marketing, and EUR 0.5 if it is not. However, the tax for coal will be EUR 0.07 and EUR 0.15 respectively. Full implementation of the electrical energy tax, EUR 0.5 per megawatt if it is used in marketing and EUR 1.0 if it is not, should be introduced by year 2010.

Wednesday, the 5th of July, 2006

Surpasses critical limit
In the first quarter of 2006, the current account deficit of the balance of payments reached EUR 475.6 million or 14.6 per cent of GDP, which is over accepted 10 per cent limit. The growth of the current account deficit was caused by an increase in deficit of goods and incomes. It could not be offset by the growing surplus of services, which increased by EUR 45 million, and current transfers by EUR 81 million. In the first quarter of 2006 Latvia received EUR 251.8 million from the European Union, including EUR 134 million as subsidies for farmers, however, the country paid EUR 77.2 million in the EU budget. The foreign direct investments balance was EUR 296 million, which is by EUR 118 million more than during the same period of the previous year. The balance of foreign direct investments covered 61.2 per cent of the current account deficit and amounted to 8.9 per cent of GDP.
Dienas Bizness

Monday, the 3rd of July, 2006

Inflation: the main adversary for businessmen
According to the research centre SKDS, 72.3 per cent of Latvian businessmen regard inflation the main hindering factor for growth of private business, however, 23.3 per cent believe it is corruption of local authorities. 37 per cent of Latvian entrepreneurs say that having a business has become harder, 42 per cent believe nothing has changed, and just every eighths questioned businessman think it has become easier and more profitable, comparing to 2001-2003.
Bizness & Baltija

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