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Ministry of Finance
of the Republic of Latvia
1 Smilsu st., Riga
LV-1919, Latvia

P.: +371-67095405
F.: +371-67095503
E-mail: pasts@fm.gov.lv
info@fm.gov.lv

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Ministry of Finance
of the Republic of Latvia
1 Smilsu st., Riga
LV-1919, Latvia

P.: +371-67095405
F.: +371-67095503
E-mail: pasts@fm.gov.lv
info@fm.gov.lv

News

Despite the slowdown of growth rates in the largest sectors of Latvian national economy, in light of the successful development in other comparatively smaller sectors, the GDP growth in the third quarter has been even slightly steeper than in the first six months of the year in total, when the economy grew by 4.7%. Even though more detailed information about the economic sectors and the GDP allocation is not yet available, the operational data regarding port and railway performance results allow concluding that, on the whole, transport and storage sector has achieved much better results in the third quarter. In the third quarter of this year, the port cargo turnover has been by 18.7% larger than the year before, but the volume of cargos transported by rail has grown by 37.6%. Increase in the cargo transit volumes have been promoted by steeply growing Belarus cargo transportation, as well as the increase in coal cargo volumes from Russia, as the cargo flow to the Baltic Sea ports of Russia itself reduced during the period of repair works. Similar to previous quarters, also the number of passengers continue to grow steeply in the Riga Airport and the sea ports.

The Baltic states – Latvia, Estonia and Lithuania – are progressing with their effort to create a pan-Baltic capital market as the next step in raising their attractiveness to investors. A “Pan-Baltic Capital Market” conference at the EBRD in London today will reaffirm the three countries’ commitment to such a union by harmonising capital market regulations and dismantling investment barriers. At the same time the representatives of the three countries reiterated their commitment to fully meet all regulatory obligations according to the highest international standards and best practice. 

Today, 25 September, the government approved a comprehensive Action Plan on the recommendations included in Moneyval’s 5th round of evaluation of Latvia’s AML/CTF system. The plan merges existing initiatives and provides a robust framework for all government institutions involved, as well as the private sector, to implement reforms identified by Moneyval’s evaluation system.

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CONTACTS

Tālrunis uzziņām: 67095405

Lietvedības tālrunis: 67095578

Fakss: 67095503

E-pasts: info@fm.gov.lv

Adrese: Smilšu iela 1, Rīga, LV-1919, Latvija

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