11 June 2003 03:01
LATVIAN DAILY PRESS DIGEST OF BUSINESS NEWS FOR WEDNESDAY, JUNE 11
RIGA, June 11, BNS - The following is Latvian daily press digest of business news for Wednesday, June 11L *
LATVIA'S ECONOMY GROWING FAST THIS YEAR Latvia's gross domestic product (GDP) swelled 8.8 percent in the first
quarter of the year over the same period last year, statistics office reported. This has been one of the fastest
quarterly growth rates over the past years. The growth rate has been even faster in Lithuania at 9.1 percent and
somewhat slower in Estonia at 5 percent. (Diena, NRA, DB, B&B) * FUTURE UNCLEAR FOR SUGAR PRICE COMPENSATIONS In
line with the government decision, passed on Tuesday, the sugar processing companies this year will receive subsidies to
partly cover sugar price. But next year the sugar processing companies will have to prove anew that they need the
compensation. (Diena, DB, B&B) * REDUCING VAT RATE ON MEDICINES PROPOSED The parliament health subcommittee too has
sent to the Finance Ministry a letter urging to apply reduced 5 percent value added tax (VAT) rate on medical remedies
as of next year instead of the planned 9 percent rate. Health Minister Ingrida Circene has sent to the Finance Ministry
a letter to a similar effect. (NRA, DB) * CHANGES EXPECTED ON MOVIE MARKET Baltic Cinema firm this October will open the
largest and most advanced multi-hall movie theatre in the Baltic states expected to bring about changes on the present
situation on movie market. Baltic Cinema marketing director Iveta Bidere said during presentation of the Finnkino movie
complex in Helsinki that Baltic Cinema is set to close down two movie theatres in Riga alongside opening of the new
complex while the third movie theatre in Riga might continue working for a while. (DB) * Dienas Bizness (DB) is Latvian
language business daily, Bizness & Baltiya (B&B) and Kommersant Baltic Daily (KBD) are business newspapers
published in Russian.
[CEIW] |
RUSSIA IN FACTS
