International Internet Magazine. Baltic States news & analytics
Thursday, 23.05.2013, 01:26
The Corruption Prevention Bureau informs that the risk of corruption in public procurement tenders is high, and the bureau has investigated, or continues investigating, at least 21 criminal cases that deal with public procurement tenders., informs LETA.
Keyword tags: Corruption, Financial Services, Latvia, Legislation, Markets and Companies, Shadow economy
The share of the shadow economy in Latvia is at 25.5% of gross domestic product (GDP) this year, according to estimates made by Johannes Kepler University of Linz professor Friedrich Schneider. According to the estimates, Lithuania's shadow economy at 28%, Estonia's – 27.6% of GDP, reports LETA/Nozare.lv.
The shadow economy reduced to 21.1% of gross domestic product in Latvia in 2012, according a study on the shadow economy in the Baltic States presented at the Stockholm School of Economics in Riga today. The shadow economy grew to 18.2% of GDP in Lithuania and 19.2% in Estonia in 2012, writes LETA/Nozare.lv.
Undeclared economic activity, the so-called "black economy", in Europe shrank last year to 19% of declared output from 19.3% in 2011, a study for the Visa credit card company indicated on Monday, writes LETA/AFP.
Lithuanian Prime Minister Algirdas Butkevicius announced that the level of illegal economy in Lithuania has become catastrophic, which might soon make one doubt the competence of heads of institutions fighting smuggling, informs LETA/ELTA, referring to Respublika.
Lithuanian Seimas opposition leader, chairman of the Homeland Union-Lithuanian Christian Democrats Andrius Kubilius has formed his shadow government, the very first shadow government in the history of Lithuania, reports LETA/ELTA.
Estonian finance minister Jürgen Ligi approved of the Tax and Customs Board (TCB) development plan for the years 2013-2016, which sets the strategic aims and main action directions of the board, LETA/Postimees Online reports.