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Latvia in Austria | Latvians in Vienna | Bilateral Relations

Latvia: Eager for the Euro. But ready?

Latvia’s leadership considers adopting the Euro in 2015 or 2016. Despite of showing the fastest economic growth rate at 5.1 % in Europe, there is scepticism Latvian population.

March 4, 2013

Latvia: Retail Trade Turnover Grows Moderately

Last month, the turnover in the Latvian retail trade industry was up by 1.2%. Compared to January 2012, the turnover was up by 5.2%.

March 2, 2013

Latvia: Unemployment Shrinks Rapidly

Data of the Central Statistical Bureau show that the number of unemployed persons (aged 15-74) in 2012 has diminished by 11.1 thousand.

March 1, 2013

Latvia: Moderate Growth in Income

During 2012 wages and salaries increased by LVL 17 or 3.7%.

March 1, 2013

Latvia: Exports Remain Growth Driver

In 2013, the Baltic countries will remain the best performing economies in the EU. However, the growth will slow down a bit.

February 23, 2013

Estonia: Gross Wages and Salaries Increased in all Economic Activities

According to Statistics Estonia, in the 4th quarter of 2012, the average monthly gross wages and salaries were 916 euros and the average hourly gross wages and salaries were 5.53 euros.

February 22, 2013

Estonians Suffer from Unfavorable Working Conditions

According to a survey carried out by the daily newspaper Eesti Päevaleht, a considerably high number of Estonians want to leave the country. The situation in Lativa is almost the same.

February 18, 2013

Euro Adoption: Latvian People Not Convinced at All

Latvia´s government is proud of its austerity course of the last years. According to Prime Minister Valdis Dombrovskis, the country is ready for the euro.

February 16, 2013

Latvia: Workforce Grows Moderately

Results of the Labour Force Survey conducted by the Central Statistical Bureau show that, compared to the corresponding period of the previous year, the number of active population (aged 15-74), in the 4th quarter of 2012, has increased by 1.5%.

February 15, 2013

Strong Growth in Lativan Construction Industry

Data of the Central Statistical Bureau show that, in comparison with 2011, construction output in 2012 has grown by 14.8%. Of which construction of buildings increased by 14.7% and of civil engineering structures – by 16.2%.

February 15, 2013

Economic Growth: Baltic Countries Ahead

Euro area GDP down by 0.6% and EU27 down by 0.5%. The CESEE countries show mixed results. Lithuania, Estonia and Latvia have performed best in 2012.

February 14, 2013

Latvia: Industrial Sector Grows Significantly

Data of the Central Statistical Bureau show that, compared to 2011, manufacturing turnover1 at current prices in 2012 increasedby 11.9%, of which in domestic market by 5.7% and in export - by 18.2%. However, the growth flattens.

February 11, 2013

Poland Underlines Necessity of Cohesion Funds

At the EU summit, Poland wants to secure as much cohesion payments in the next multiannual financial framework from 2014 to 2020.

February 7, 2013

Baltic Countries: Strong Increase in Retail Trade

In the EU, the volume of retail trade was down by 0.6%. In Austria, turnover in the retail trade sector is decreasing in real terms.

February 5, 2013

Property Market: Baltic Countries Against the EU Trend

Third quarter 2012 compared with third quarter 2011: Euro area house prices down by 2.5%.

January 31, 2013

„Whatever Happens to the Euro, Happens to Our Currency“

In an interview with the Austrian daily newspaper “Kurier”, Latvia´s Prime Minister Valdis Dombrovskis explains why Latvia joins the Eurozone. However, the Latvians are not convinced at all.

January 30, 2013

Bank Austria Centralizes Operations in Baltic Countries

The Austrian subsidiary of Italian UniCredit has shifted the units in Lithuania and Estonia to Latvia.

January 29, 2013

Lithuania to Join Eurozone in 2015

According to Lithuanian Prime Minister Algirdas Butkevicius, the country will introduce the euro in the medium term.

January 26, 2013

Euro Introduction: Latvian Government Hopes for Public Support

According to Latvia´s minister of Finance Andris Vilks, at least 50% of Latvian citizens should approve the euro introduction next year.

January 16, 2013

Baltic Countries: Strong Increase in Industrial Production

Industrial production down by 0.3% in euro area and EU27.

January 14, 2013

Highest Percentage of Low-Wage Earners in Baltic Countries

One out of six employees in the EU27 was a low-wage earner in 2010. Large differences between men and women, levels of education and types of contract.

December 20, 2012

CESEE: Poverty Grows Considerably

In Europe, one in four citizens is affected by poverty, the Russian newspaper “Rossijskaja Gaseta” states.

December 18, 2012

Euro Introduction: Latvians Still Skeptical

The Latvian government aims to introduce the common currency in 2014. The Latvian Budget and Finance Committee approved the introduction.

December 13, 2012

„Eurobonds Are No Solution“

Latvia´s Prime Minister Valdis Dombrovskis argues that euro-bonds may be implemented at the end of the convergence process.

December 11, 2012

Retail Trade: Highest Increase In Baltic Countries

Volume of retail trade was down by 1.2% in the euro area.

December 5, 2012

Unemployment Decreasing in Baltic Countries

Euro area unemployment rate at 11.7%. EU27 at 10.7%. Austria still records the lowest unemployment quota.

November 30, 2012

CESEE: Social Protection Still Underdeveloped

EU27 spent 29.4% of GDP on social protection in 2010. The lowest ratios were observed in Romania, Latvia, Estonia and Bulgaria.

November 27, 2012

S&P Upgrades Latvia

The Baltic country performs well, S&P underlines. The long and short-term sovereign credit rating moved from “BBB-/A-3” to “BBB/A-2”.

November 15, 2012

Latvia Has Best Growth Prospects

Today, the EU Commission has announced its economic forecast for 2012. Austria is among the economically stable countries.

November 8, 2012

Unemployment: Austria Ranks First in EU

In September, the euro area unemployment rate came at 11.6%. The Baltic countries registered a substantial decrease in unemployment.

October 31, 2012

Nine Prime Minister Discuss EU Budget in Bratislava

The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.

October 3, 2012

Latvian Government Intends to Join the Eurozone in 2014

Despite the skeptical citizens of Latvia and the crisis in the Eurozone, the Latvian government wants to introduce the euro in 2014.

September 26, 2012

Latvia: Introduction of the Euro Wobbles

The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.

September 22, 2012

EU: Germany Biggest Net Payer, Poland Biggest Net Recipient

In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.

September 21, 2012

Latvia: Fit for the Eurozone

According to Latvia´s Central Bank, the country will fulfill the Maastricht criteria by the end of the year.

September 18, 2012

Latvia: Majority Rejects Euro

According to a opinion poll by “Latvijas fakit”, 59% of the Latvians does not want to join the Eurozone.

September 5, 2012

Austria to Strengthen Cooperation with Baltic States

Austrian State Secretary meets the Speaker of the Latvian Parliament and underlines Latvia´s successful austerity course.

June 12, 2012

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010