One of the tasks of Latvijas Banka is to advise the Saeima and the government on monetary policy and on aspects of economic policy that are associated with Latvia's participation in the euro area, as well as on other issues related to the work of Latvijas Banka.
In 2025, officials and employees of Latvijas Banka held regular meetings with members of the Saeima and the government. They also participated in committee meetings of the Saeima and in meetings of the Cabinet of Ministers, as well as in the work of several committees and working groups established by the government to give opinions on financial and economic development.
In its analysis of Latvia's economic development prospects, Latvijas Banka provided comprehensive analytical and data-driven support, offering expert advice to the Saeima and the government on issues affecting the country's economy and development, including fiscal policy, social protection, education policy, foreign trade policy, human capital development, health care, promotion of birth rates, and food price dynamics, to name a few.
In 2025, Latvijas Banka actively participated in the evaluation of proposals and the provision of recommendations to reduce bureaucracy in public administration, including by reviewing and harmonising the requirements of public institutions for data submission.
Latvijas Banka continued its analysis of the Latvian financial sector's role in the country's economy, focusing on the accessibility of funding and financial services, while equipping policymakers with insights into existing barriers and presenting proposals for improvement.
Latvijas Banka cooperated with the Investment and Development Agency of Latvia: it provided support in the process of engaging with potential foreign financial market participants seeking to provide services in Latvia, aiming to bolster competition within the financial sector. Latvijas Banka also provided expertise in the area of export and innovation, with representatives of Latvijas Banka serving on the jury of the competition "Export and Innovation Award 2025".
In 2025, Latvijas Banka continued its active work in the development of Latvia's fintech sector, in close cooperation with the Ministry of Finance, the Ministry of Economics, the Investment and Development Agency of Latvia, the Riga Investment and Tourism Agency, and other institutions, as well as industry associations and business representatives. This included providing advice to participating public authorities and industry associations on fintech business models, the regulatory framework, as well as on Latvijas Banka's support instruments, including the Regulatory Sandbox.
Experts of Latvijas Banka engaged in various working groups and professional organisations, as well as in collaborative efforts with relevant ministries and institutions.
- economic forecasts;
- drivers of economic growth (including by region);
- planning and execution of government expenditure;
- enhancement of the state-funded pension scheme and operation of pension funds;
- lending, including refinancing mortgage loans and loans to non-financial corporations;
- use of Credit Register data;
- impact of foreign trade policy instruments (including tariffs);
- strengthening and effective enforcement of sanctions against Russia and Belarus;
- regulation and development of the financial sector;
- financial literacy and reducing financial fraud;
- management of ML/FTP risks and sanctions risks;
- cash circulation;
- the digital euro.
Latvijas Banka submitted its opinion to the Constitutional Court in a case on the mortgage borrower protection levy and the related compensation of loan interest, as well as in a case on the constitutionality of provisions of the Law on the Release of Natural Persons from Debt Obligations.
Experts of Latvijas Banka continued to actively cooperate with public authorities and provided information on critical financial services at events organised by them (including events organised for a wide audience in the area of civil protection).
Employees of Latvijas Banka continued to participate in their capacity as experts in the Working Group for the Preparation of the Notification of the General Government Budget Deficit and Debt chaired by the CSB, compiling the notification data for the general government budget deficit and debt for 2024 and dealing with the methodological issues related to the compilation of these data. Employees of Latvijas Banka also took part in Eurostat-led work on methodological issues and surveys, including topics such as the macro-financial assistance loan to Ukraine, the statistical treatment of the NATO Innovation Fund, the accounting principles for EU grants, and tax revenues in EU Member States.
Throughout the reporting year, Latvijas Banka continued to support the government in advancing Latvia's active engagement with the EU and representation in the OECD and MONEYVAL. Latvijas Banka also supported the government in facilitating information exchange with international credit rating agencies and preparing the borrowing operations of the Republic of Latvia.