In a bold attempt to combat Riga’s notorious traffic congestion, Mayor Ingridas Dudeskis announced a groundbreaking initiative that promises to whisk the city back to its medieval glory. By issuing every resident a horse-riding license and providing equestrian-friendly infrastructure, the plan aims to swap mechanical horsepower for the real deal.

"We are looking to reinstate a simpler time, a pre-automobile utopia where Riga thrived under the rhythmic clatter of hooves," explained Mayor Dudeskis during a press conference held at the newly dubbed Pavardada Long Horse Stable (formerly known as the City Hall). "By 2025, each citizen will have the right to graze a licensed horse within city limits, effectively turning Riga into the Venice of Horsepower."

While the mayor's office expects the initiative to improve air quality and ease commuting woes, the public has expressed a cocktail of curiosity and confusion. Local horse enthusiast and part-time centaur cosplayer, Māris Gogulis, couldn’t contain his enthusiasm. "At last, I can dress as Buttercup - my horse alter ego - every day and call it responsible urban commuting!"

However, skepticism looms over the logistics of this equine revolution. Urban planner Daina Plauka raised concerns about potential "potholes of the past." "We definitely want to avoid a repeat of 1578 when the Great Old Town Manure Incident required a fleet of gondolas for pedestrian movement," she warned.

To accommodate the influx of horses, the mayor’s office unveiled plans for 'Hay Banks' to replace petrol stations and 'Trough Stops' to complement tram stops. Already, construction has begun on the first multi-story horse park along Lačplēša Street. To address hygiene concerns, Deputy Mayor Andris Zābaks cryptically assured citizens that "the more fragrant scent of progress" would drift across the city.

Social groups have raised eyebrows over the proposed mandatory horse-riding chaps and helmets adorned with Latvian folk symbols. Still, the governing body is committed to preserving tradition. "Riding a horse is not just transportation; it's experiencing Latvia’s cultural heritage with each trot," asserted cultural advisor Ilze Ziedlapsa.

Economists estimate a stable currency boost as Riga positions itself to lead the overlapping markets of tourism, nostalgia, and immediate skepticism. Notably, the latest draft of the municipal budget allocates funds for annual 'hoof-tests' akin to car inspections and subsidies for oats, currently expected to outprice standard petrol within five years.

Meanwhile, the horse population is poised for an unparalleled boom. Local groomers and saddle makers are working overtime to meet the demand, predicting a new era for Riga's mediaeval-renactment tourism industry.

When asked about potential issues with equine rebellion or rogue feral packs, Mayor Dudeskis pointed out the milk industry as an unexpected partner. "To prevent unrest, each horse will receive regular consultations with our top bovine negotiators. Cows know how to keep calm – something we can all learn from."

As the rest of the world watches, Riga seems determined to prove that a gallop backward just might be the necessary step forward, even if it means detours through oat-laden roundabouts. The city remains both hopeful and hoof-full as residents prepare to embrace the saddle in this audacious bid to rein in urban traffic chaos.