Latvia’s Economy Surpasses Expectations with 2.1% Growth
Latvia’s economy grew at a faster pace than anticipated last year, according to data released Friday, February 27, 2026, by the Central Statistical Bureau. The country’s gross domestic product (GDP) increased by 2.1% in 2025.
The figure significantly exceeds the 1.2% growth forecast by the Bank of Latvia. This positive economic performance comes as many European nations grapple with slower growth and economic uncertainty.
Rail Baltica Project Sees Leadership Change
Māris Dzelme has stepped down as the interim chairman of the board of “European Railway Lines,” the company responsible for implementing the Rail Baltica project in Latvia. He had held the position for less than a year.
The Ministry of Transport announced that Jānis Naglis, the current interim board member, will become the sole member of the company’s board. Rail Baltica is a major infrastructure project aimed at connecting the Baltic states with the European railway network.
Income Tax Declarations to be Filed Starting March 1st
Latvian residents will be able to submit their income tax declarations for the previous year beginning Sunday, March 1, 2026, through the State Revenue Service (SRS) website.
The SRS noted that changes to tax regulations mean fewer individuals will be due a tax refund or owe additional taxes.
Spring Flood Season to Begin Next Week
Latvia is preparing for the spring flood season, which is expected to run from March 5th to April 15th, 2026, according to the Climate Ministry.
This year, the snow and ice accumulation in rivers is greater than usual, raising concerns about more extensive flooding than in previous years. The State Fire and Rescue Service will send out warning messages to mobile phones if necessary.
Photo: Nature Conservation Agency
Pakistan Launches Attacks in Afghanistan
Pakistan launched attacks on major cities in Afghanistan on Friday, February 27, 2026, including the capital, Kabul. The strikes have escalated tensions between the two nations.
The two countries have engaged in frequent clashes and retaliatory attacks in recent months, without finding a resolution to their disputes. Pakistan alleges that Afghanistan provides safe haven for militants who launch attacks within its borders. Iran, which shares borders with both Afghanistan and Pakistan, has offered to facilitate talks between the two countries, as have Russia, Turkey, China, and Saudi Arabia.
IMF Approves $8.1 Billion Loan for Ukraine
The International Monetary Fund (IMF) has approved a $8.1 billion loan to Ukraine over four years. Ukraine will immediately receive $1.5 billion.
The funds are intended to help Ukraine address its budget deficit and maintain economic stability amid ongoing conflict.
Poland to Invest Billions in Military Modernization
The Polish parliament on Friday, February 27, 2026, approved a plan to modernize the country’s armed forces. Poland will borrow 44 billion euros from European Union programs to fund the upgrades.
The funds will be allocated to air and missile defense systems, anti-drone technology, and other military equipment. Additional funding will also be provided to the police, border guard, and for road and railway projects.
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