Archives for Latvia

Baltic leaders define 4 joint priorities for EU budget

The next budget of the EU has to guarantee better connections, a more balanced development and well-being of regions, fairer direct support to farmers, and funding for dealing with migration and security issues, Estonian Prime Minister Juri Ratas, his Latvian counterpart Maris Kucinskis and Lithuanian President Dalia Grybauskaite said in a joint address to their EU colleagues.

Latvia showed faster GDP growth than EU on average in Q4

During the fourth quarter of 2017, Latvia’s gross domestic product (GDP) grew at a faster rate than the EU economy on average, according to a fourth-quarter flash estimate on the bloc’s 18 member states released today by Eurostat. During the fourth quarter of 2017, Latvia’s seasonally adjusted GDP expanded by 4.8% against the same period a year ago. Hungary’s GDP grew just as quickly and Romania reported an even faster growth as its economy increased by 7% year-on-year. These three countries were followed by Poland (+4.3%), Finland and Cyprus (+3.9% in both countries), Bulgaria, Lithuania, Austria and Slovakia (+3.6% in all four countries). GDP grew in annual terms in all the EU member states reporting their data. During the last quarter of 2017, the economy of the whole EU grew by 2.6% against the fourth quarter of 2016., while the Eurozone recorded a 2.7% growth. Source

Latvia beats schedule in implementation of EU funds

By January 24, 2018, projects with the EU co-financing worth more than EUR 2.5 billion have been launched which is more than a half of the total EU financing available to Latvia or EUR 4.4 billion. Transport, environmental and territorial development, social inclusion and education projects show the greatest progress in absorption of the EU funds in Latvia,.

Nordic and Baltic countries sign cooperation agreement on ensuring financial stability

The ministries, central banks, financial supervision authorities and crisis resolution institutions of the Nordic and Baltic countries have signed a cooperation agreement of mutual understanding on the organization of cooperation concerning cross-border financial stability. The parties of the signed cooperation agreement include Estonia, Latvia, Lithuania, Finland, Sweden, Denmark, Norway and Iceland.

Index of Economic Freedom 2018

About the Index of Economic Freedom 2018 The principles of economic freedom are measured in the Index of Economic Freedom, an annual guide published by The Heritage Foundation, Washington’s No. 1 think tank. For over twenty years the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries. The 2018 Index  measures economic freedom based on 12 quantitative and qualitative factors, grouped into four broad categories, or pillars, of economic freedom: Rule of Law (property rights, government integrity, judicial effectiveness) Government Size (government spending, tax burden, fiscal health) Regulatory Efficiency (business freedom, labor freedom, monetary freedom) Open Markets (trade freedom, investment freedom, financial freedom) Each of the twelve economic freedoms within these categories is graded on a scale of 0 to 100. A country’s overall score is derived by averaging these twelve economic freedoms, with equal weight being given to each. Rank Country Overall Change Mostly free 7 Estonia 78.8 -0.03 16 Georgia 76.2 +0.2 19 Lithuania 75.3 -0.5 28 Latvia 73.6 -1.2 Moderately free 67 Azerbaijan 64.3 +0.7 78 Kyrgyzstan 62.8 +1.7 41 Kazakhstan 69.1 +0.1 44 Armenia 68.7 -1.6 Mostly unfree 105 Moldova 58.4 +0.4 106 Tajikistan 58.3 +0.1 108 Belarus 58.1 -0.5 150 Ukraine 51.9 +3.8 152 Uzbekistan 51.5 -0.8 Repressed 169 Turkmenistan 47.1 -0.3 Source

World Energy Trilemma Index 2017

The World Energy Council’s definition of energy sustainability is based on three core dimensions – energy security, energy equity, and environmental sustainability. Together, they constitute a ‘trilemma’, and achieving high performance on all three dimensions entails complex interwoven links between public and private actors, governments and regulators, economic and social factors, national resources, environmental concerns, and individual behaviors.