Riga, Sigulda

CAPITAL CITY OF Latvia: Riga
LANGUAGE OF Latvia: latvian
CURRENCY OF Latvia: Latvian lat (LVL)
COMMENTS ABOUT Latvia:
Latvia is situated in Northern Europe.
Cities : Riga (capital), Bauska, Cesis, Daugavpils, Jelgava, Jūrmala, Kuldiga, Liepāja, Rēzekne, Sigulda, Tukums, Valmiera, Ventspils
Best Places : Livu Akvaparks, Karostas, Open Air Art Museum, Ferry to Saaremaa island
Electricity : 220V/50Hz (European plug)
Calling Code : +371
Time Zone : UTC+2
After a brief period of independence between the two World Wars, Latvia was annexed by the USSR in 1940. It reestablished its independence in 1991 following the breakup of the Soviet Union. Although the last Russian troops left in 1994, the status of the Russian minority (some 30% of the population) remains of concern to Moscow. Latvia joined both NATO and the EU in the spring of 2004.
CLIMATE OF Latvia: maritime; wet, moderate winters
RELIGION OF Latvia: Lutheran, Roman Catholic, Russian Orthodox
POPULATION OF Latvia: 2,290,237 (July 2005 est.)>>>
ECONOMY OVERVIEW OF Latvia: Latvia's transitional economy recovered from the 1998 Russian financial crisis, largely due to the government's budget stringency and a gradual reorientation of exports toward EU countries, lessening Latvia's trade dependency on Russia. The majority of companies, banks, and real estate have been privatized, although the state still holds sizable stakes in a few large enterprises. Latvia officially joined the World Trade Organization in February 1999. EU membership, a top foreign policy goal, came in May 2004. The current account and internal government deficits remain major concerns, but the government's efforts to increase efficiency in revenue collection may lessen the budget deficit. A growing perception that many of Latvia's banks facilitate illicit activity could damage the country's vibrant financial sector.