Problems keep piling up in the transport and logistics industry, which is the second largest national economy industry in Latvia. On top of that, this industry may experience a complete collapse because of two unreasonable and absurd decisions, experts say.

Latvian milk processing companies have successfully recovered from Russia’s embargo, and have found other export markets, says Central Union of Latvian Dairy Farmers chairman Janis Solks.

Profits of gambling companies in Latvia grew 11.7% in the first six months of 2017 in comparison with the same period of last year and were EUR 130.481 million, according to data compiled by Lotteries and Gambling Supervisory Inspection.

«The contribution to the state budget from raising duel excise tax cannot be calculated purely mathematically because the increase of fuel prices leaves a negative impact on every sector of Latvia’s national economy, as well as every Latvian resident’s level of welfare,» said President of Baltic Association – Transport and Logistics Inga Antane.

German low-price store network Lidl entry into Latvia’s market will intensify competition for employees, said CEO of Latvian Association of Food Traders Noris Kruzitis in an interview to Latvijas Radio.

«Unfortunately, Latvia is far behind the leading European countries and its closest neighbours in terms of using wind power – Estonia’s wind production output exceeds Latvia’s 4.5 times, and Lithuania’s output exceeds its northern neighbour’s output 7.2 times,» says Wind Energy Association board member Toms Naburgs.

Estonian shipping company Tallink has performed its test cruise in the route Helsinki-Riga-Helsinki, which has had over 3 000 passengers.

In Q2 2017, compared to the corresponding period of 2016, GDP grew by 4.1% according to seasonally and working days non-adjusted data and by 4.8 % according to seasonally and working days adjusted data.

Riga Freeport Authority should work on diversifying cargoes and reducing dependence on bulk cargoes, said the newly-appointed CEO of Riga Freeport Ansis Zeltins in an interview Rīta Panorāma of LTV.

«As a socially responsible organization, we believe changes to the tax system are a step in the right direction. But work is not over yet. True benefits from the reform will appear only once people’s attitude changes,» employers comment on the tax reform.