Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Saturday, 19.10.2019, 13:07

Riga.lv to be liquidated

BC, Riga, 19.06.2019.Print version
The Riga.lv foundation, established by the Riga City Council, will be liquidated, Riga Mayor Dainis Turlais (Honor to Serve Riga) told LETA.

The decision was made after discussions with the board of Riga.lv.


In addition, the Riga City Council's Public Relations Department has been tasked to create a plan of action on how its work will be organized in the future - communications with the public, with the local media, and so on, Turlais said.


According to Firmas.lv, Riga.lv operated with EUR 1.96 mln in turnover, and a profit of EUR 697,106 last year. The company also received a subsidy of EUR 1.77 mln from the Riga City Council last year.


As reported, the State Audit Office this spring released a highly critical report which says that over the past three years the local authority of Riga has misspent over EUR 20 mln worth of taxpayers’ money through municipal foundations – the Riga Tourism Development Bureau (RTAB) and Riga.lv.


After the audit report, municipal officials promised to look into the two foundations’ operations.






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