Economy & FinanceEditor's PicksLatvia

The bankruptcy of the Latvian capital is now obvious to everyone

Nils Usakovs
Nils Usakovs

Mayor to blame for Riga’s near bankruptcy

Prices for public transport in Riga doubled on February 1, even though Mayor Nils Ušakovs had spoken of abolishing fares as little as two years ago.

The bankruptcy of the Latvian capital is now obvious to everyone, the online portal Ir comments:

“When Nils Ušakovs was elected mayor of Riga six years ago, the city’s coffers held reserves of 120 million euros. Now 25 million is all that remains. The city’s decision to double the far prices was a dramatic signal that Riga really is in a bad way. This is a panicked attempt by the mayor to save the city’s finances.

… Even the Finance Ministry is worried about the risks the city poses to the national budget. At the end of the day, all Latvians must foot the bill for the bankruptcy of Nils Ušakovs’ economic policy in Riga.”


Riga's public transport | Photo: BR Archive

Riga’s public transport | Photo: BR Archive


Andrzej Vilenski
Andrzej Vilenski, the Baltic Review correspondent is a PhD student at the University of Vilnius, studying policy.

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