|Latvia Business News: Archive 2003-2006
Tuesday, the 18th of July, 2006
Unemployment does not particularly shrink
The State Employment Agency of Latvia announced that by the end of June 2006 the level of unemployment in Latvia was 6.3 per cent, which is just by 0.7 per cent less than in May. The lowest level of unemployment was registered in Riga and Rigas district, 4.8 per cent, whereas the highest level of unemployment was registered in Latgale region, 27 per cent.
Life in Riga is more expensive
According to the Central Statistical Bureau, in Riga the consumption expenses per household member a month are EUR 242, whilst in the countryside this index amounts to EUR 141. The consumption expenses of the households of entrepreneurs and self-employed persons constitute EUR 314 in average per household member a month.
Monday, the 17th of July, 2006
Inflation is high. Nobody is surprised
In Latvia the inflation is still high, and experts believe it will be 6-7 per cent during the whole year. In June the inflation did not decrease due to the continuing increase of consumer prices. Since the beginning of 2006, consumer prices in June increased by 3.8 per cent. Whereas, comparing to June 2005, consumer prices increased by 6.3 per cent in June 2006.
Minimal salary in Latvia is the lowest in the EU
According to the European Statistical Bureau data, from January 2006 the minimal salary in Latvia was EUR 129 a month, which is the lowest index among the European Union member states. In June 2006, the living costs in Latvia reached EUR 166, which is by 10 per cent more than the same time previous year.
Economical priorities defined
The strategy developed by the Latvian Ministry of Economics for 2007-2009 stipulates achieving the increase of enterprises and promoting proficiency in economics. For example, one of the goals is to have 20-30 enterprises per every 1,000 residents of Latvia, another is to facilitate the bookkeeping and promote fair competition.
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