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International Internet Magazine. Baltic States news & analytics Tuesday, 16.04.2024, 10:21

If sprats are included on Russia's blacklist, Latvia's losses will amount to EUR 38 mln

BC, Riga, 26.08.2014.Print version
If Russia decides to include sprats on its list of banned import products, Latvia will suffer direct losses in the amount of EUR 38 million, and more than 10,000 people will be laid off, Agriculture Minister Janis Duklavs (Greens and Farmers' Union) told the press representatives yesterday, cites LETA/Nozare.lv.

"If Russia decided to include sprats on its list of banned products, it would cause us losses of EUR 38 million, which would add up to the current estimate of EUR 53 million in losses," the minister said.

 

He also admitted that an import ban on sprats would be a "very strong blow to our country."

 

Furthermore, this figure does not include the indirect impact, said Duklavs. "It is currently unclear how much it would cost to the fish processing industry, yet it is clear that we must also consider the indirect impact, for example, unemployment, municipal aid, etc. It is absolutely clear that it would be a terrible blow to the state and the social budget. We already have the example of Liepajas metalurgs where 2,000 people were laid off. In this case, the figure would reach at least 20,000," Duklavs said.





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