POLITICAL RISK - Pension Reform

The Latvian Central Election Committee has stated that over 149,064 of the required signatures have been collected in support of a bill which will raise the state pension. The Latvian constitution enables voters to propose legislation, providing there is sufficient support from the electorate. Supporters of the bill favour raising pensions so they are in line with the minimum subsistence level. Former Foreign Minister Artis Pabkris, who supports the bill, has calculated that these amendments would cost LVL200mn, however others in favour believe that the region of LVL400mn is more likely.

To read the full article, please choose one of the following options: