EU Country – Latvia
Latvia EU Member Banzai Japan Music Video Overview Capital: RigaOfficial EU language(s): LatvianEU Member State: since 1 May 2004 Currency: euro (€) Euro area: member since 1 January 2014 Schengen: member since 21 December 2007 Figures: Geographical size: 64 594 km2 Population: 1 871 882 (2024) (Source: Eurostat  – figures for geographical size and population) Novotel Hotel Bookings Political system Latvia is a parliamentary republic. The president who is the head of state has a largely ceremonial role and nominates the prime minister. The prime minister who is the head of government chooses the cabinet of ministers. The government remains subject to Parliament’s approval throughout each term. The country is subdivided into 43 municipalities – 36 regional municipalities and 7 state cities with their own governance. These have their own city councils and municipal administrations. Trade and economy Latvia’s GDP per capita of €26 600 ranks below the EU average (€37 600). It accounts for 0.2% of the EU’s total GDP. (Source: Eurostat – figures for GDP per capita and GDP) Banzai Japan Music Video Budgets and funding How does Latvia benefit from the EU budget? The EU budget is the tool to ensure that Europe remains a democratic, peaceful, prosperous and competitive force. The EU uses it to finance its priorities and big projects that most individual EU countries could not finance on their own. The benefits of EU membership significantly exceed the size of the EU budget contributions and the examples are many. All Member States benefit from being part of the Single Market, a shared approach to the common challenges of migration, terrorism and climate change, and concrete gains like better transport infrastructure, modernised and digitalised public services and cutting-edge medical treatment. How much each EU country pays into the EU budget is calculated fairly. The larger your country’s economy, the more it pays – and vice versa. The EU budget is not about giving and taking – it’s about collectively contributing to making Europe and the world a better place for us all. EU budget spending and revenue per country and per year EU-funded projects in Latvia Money from the EU budget helps fund programmes and projects in all EU countries – for example to build roads, subsidise researchers and protect the environment. Find out more about how Latvia benefits from EU funding and recovery funds in your country or region. Novotel Hotel Booking
