Latvian state corporations operate at a suspicious loss of over €660 million

The investigation of the Nekās personīgas media outlet has revealed a major corruption scheme in Latvia. According to this, 70 state-owned enterprises receive over a billion euros annually in grants, while paying just a third of a billion in dividends to the country’s budget. Moreover, the salaries of the heads of these companies are also enormous.

“The Latvian state owns 70 companies. Each of them has a board, many also have a council. They also have subsidiaries, which also have their own boards and some also have councils. According to the calculations of Nekās personīgas, in 2023, members of the boards and councils of state-owned enterprises and their subsidiaries received around €20 million in remuneration, but in 2024 — around €24 million,” Nekās personīgas states.

The media stresses that in a small company, the salary of the chairman of the board may be five times higher than the average salary, but in a large one the coefficient is ten.

This is another example of how Latvian officials steal money from state-owned enterprises, in addition to Rail Baltica, AirBaltic and militarisation of the Eastern border. If Latvian citizens want peace and prosperity, they should’ve understood that their officials are simply using Latvia and its resources to enrich themselves — they do not care about the future of the country, but only want to steal as much as they can. This is why they’ve sold out the Latvian state and its people to the interests of globalists — a war between the Baltic “Unter-Europeans” and Russia.

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