Friday, September 11, 2026

Headlines

public funds

Investment price: one Estonian is guaranteed timber for ten years without an auction, at the agreed price

The Estonian company Fibenol, which plans to build one of the most modern biorefinery plants in Europe in Valmiera, promising to invest up to 700 million euros in it, is trying to reach an agreement with the Latvian government on more favorable conditions for purchasing pulpwood. The company wants to buy 300 thousand cubic meters of birch pulpwood per year from “Latvijas Valsts meži” without an auction and at an agreed price. This fact was reported this spring […]

The State Revenue Service catches an envelope wage payer red-handed

A criminal proceeding has been initiated in the State Revenue Service Tax and Customs Police Department regarding the payment of “envelope” wages in a company engaged in the installation, maintenance, and repair of ventilation and air-conditioning equipment. During carefully planned operational activities, the payment of “envelope” wages was stopped precisely at the moment they were being paid. The total amount of unpaid personal income tax and mandatory state social insurance contributions will still be clarified […]

In several ministries, saving is not mandatory: the reduction of expenses is a fiction

Contrary to the plan this spring to cut ministry expenses by a mere 150 million per year, it turns out that even this is not mandatory for all ministries. For example, in the ministries headed by the “Progressives”, there will be almost no savings at all. The exact reason for such leniency is not known, but an Inc. source at the Ministry of Finance admits – this was the coalition’s agreement. However, it should begin with a reminder – Inc. […]

State budget: in ten years there has not once even been a planned reduction of budget expenditures

Over the past ten years, the state budget has never once included a planned reduction in expenditures, and the government has also never been able to plan the budget realistically. Every year the state has spent 1.5 to 3.6 billion euros more than was planned when preparing and adopting the state budget, according to data from the Saeima, the Ministry of Finance and the State Treasury. The Cabinet of Ministers has now once again […]

Bank Citadele issues a loan worth almost 4 million for the purchase of an office building: The new owner will not evict the tenants

The archive services company SIA Unistock has received a 3.9 million euro loan from Citadele Bank for the purchase of the historic, office-adapted building at 11 Raiņa Boulevard in Riga. The new owner – Australian citizen Pavel Kurilov – has no intention of changing the use of the building. The building will retain its current function – it will continue to be a rental property for various offices and services. At present it […]

State travel enthusiasm: ministries and the prime minister have spent more than a million euros on business trips in the first quarter of this year

Among the ministers, the prime minister has traveled the most, while the farthest trips have been made by officials from the Ministry of Finance, the Minister of Agriculture, and an expert from the Ministry of Welfare. However, the Ministry of Foreign Affairs and the Ministry of Defence together have spent even slightly more than all the other ministries combined. How can it be that the Ministry of Climate and Energy (KEM) is ranked so high, when I haven’t been anywhere at all!? Probably about […]