Valsts atbalsta kritēriji uzņēmumiem no produktivitātes veicināšanas aspekta
2021
Krasnopjorovs, O., Bank of Latvia, Riga (Latvia);University of Latvia, Riga (Latvia) | Kovalovs, K., Visma Enterprise, SIA, Riga (Latvia)
The economic downturn caused by the Covid-19 pandemic has increased the amount of state aid to households and businesses. Country as the consolidated general budget deficit approaches 9% of gross domestic product in 2021 (forecast by the Ministry of Finance); each fourth euro spent is borrowed money. In the event of a short-term crisis, even broad support measures for companies will not impair the fiscal sustainability of the country. However, prolonging the crisis may increase the tendency to target state aid for companies. This support should also contribute to the long-term development of productivity. In the course of the study, approximately 167 thousand economically active Latvian companies were analysed. The companies included in the ORBIS database are representative both by sector (exception - State administration, education and health care) and by region of Latvia. For example, Latvian companies included in the ORBIS database covered over 714 thousand jobs in 2018, which is 79% of the number of jobs in the country. In this study, productivity is defined as value-added per worker, while value added was calculated from corporate profits and personnel costs (where personnel cost data not available, staff costs were thought to be 70% of administrative costs of an undertaking; source of administrative costs: Lursoft database). In order to obtain real indicators (at 2015 prices) from the nominal indicators of the ORBIS database (at current prices), domestic gross product deflator has been used. Such calculation of productivity is widely used in scientific literature.
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