AGP Executive Report
Last update: 8 hours agoDistilling Under Pressure: Latvia’s tax authority has frozen Amber Latvijas balzams’ accounts again after its legal-protection case ended. The producer reported €28.28 million in tax debt and says it is seeking access to funds to keep operating. Timber Industry: The Constitutional Court declined to hear a challenge to government decisions on timber-industry support, ruling the prosecutor general could not bring this type of case. Fintech Push: Latvia is pitching itself as an EU fintech hub; Latvijas Banka has issued more than 20 licences this year, and the sector employs 3,644 people. Defence Manufacturing: A new anti-tank mine plant is planned to begin production in 2028, supplying Latvia’s armed forces and exports. Patria is also expanding its Latvian operations with a vehicle facility in Valmiera. Industry and Transport: Grindeks invested €1.87 million to expand medicine-packaging capacity, while airBaltic posted a €128.2 million first-half loss despite higher revenue and passenger numbers. Economic Outlook: The IMF forecasts Latvia’s economy will grow 2.3% in 2026, the second-fastest pace in the Baltics.
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