Latvia, Markets and Companies

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.