Key Figures

Chief of State:
President Raimonds Vejonis
Head of Government:
Prime Minister Maris Kucinskis

Overview

Government Name:
Republic of Latvia
Constitution:
Adopted: 1922; Sets out a foundation for the roles and structures of its three branches of government. Also discusses fundamental human rights and establishes Latvia as a democratic republic.
Government Type:
Parliamentary Democracy
Republic of Latvia Flag
Coat of Arms of Republic of Latvia

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2018)

Country Risk Rating

A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average. Source: Coface (2018)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

The president is largely a ceremonial head of state, has influence rather than power; President has personal discretion over the proposal of legislation to the parliament, vetoing legislation, and calling referendums on legislation. The prime minister's powers, although formally given to the president, are exercised constitutionally by the prime minister. Some of these powers are acting as the commander-in-chief of the armed forces, signing treaties, representing Latvia broad, and officially appointing ambassadors and other officials.

The president is elected by Saeima. The prime minister is appointed by the president with the approval of Saeima.

4 years

Judicial

Provides jurisdiction on the various levels of court cases presented.

Judges are appointed by Saeima.

Life appointment

Legislative

Saeima acts as a unicameral legislative body for the Latvian government.

100 members are elected through a flexible-list proportional representation system.

4 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
State Revenue Service
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/library/publications/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/