Fitch affirms Estonia’s sovereign rating at its current level

According to the press release published on 31 January 2008, Fitch Ratings affirmed the Republic of Estonia’s long-term foreign currency and local currency Issuer Default Ratings at A and A+, respectively. The outlook was changed to negative from stable.
“In Fitch’s opinion, risks caused by the global financial market turbulences have increased in Eastern Europe as [...]

More money was spent on Christmas presents

According to Statistics Estonia, in December 2007 the retail sales of retail trade enterprises were 5.4 billion kroons, which is 630 million kroons more compared to December 2006.
In December 2007 compared to December of the previous year, the retail sales of goods of retail trade enterprises increased by 4% in constant prices. The growth [...]

Mining and use of oil shale to be based on interests of state

For the first time in Estonia, the draft development plan for the use of oil shale produced on the initiative of the Ministry of the Environment deals with the mining and use of one of the country’s most nationally significant resources, taking into account its effects and bearing in mind the state’s interests.
“Oil shale is [...]

Developments in line with central bank’s forecast

According to Deputy Governor of Eesti Pank, MÄRTEN ROSS, who gave a presentation at a business lunch of American Chamber of Commerce Estonia on 25 January, Estonia’s economy is adjusting as expected.
“While Estonia’s domestic demand has decreased, the exports growth has remained strong and external balance is showing signs of improvement. Although price pressures are [...]

Loan market in line with the soft landing of the economy

In December 2007, the total volume of loans and leasing issued to Estonia’s private persons and companies grew by 1.4% and the annual growth rate declined from 51.5% in 2006 to 30.2%. The cooling of loan market reflects the soft landing of the economy to a more balanced growth path where changes take place primarily [...]

Mobile Communication Penetration in Estonia at 136 Percent

The penetration of mobile communication services in Estonia was 136.4 percent at the end of last year, data by the technical watchdog show.
“According to our data there are 136.4 SIM cards per 100 people in Estonia,” deputy director general of the Technical Surveillance Authority Priit Soom said.
Mobile penetration crossed the 100 percent mark in 2005.
Mobile [...]

EU Planning Free Market of Emission Quantities as of 2013

The European Union’s executive Commission has unveiled plans for combating climate change, according to which national energy sector pollution quotas would be eliminated as of 2013 and companies would have to start buying quantities of greenhouse gases on the EU’s common market.
“Regarding (emissions) trade, the new plan does not embrace our sore point, oil shale, [...]

Number of Births Increased Significantly in 2007

The decrease in the size of Estonia’s population slowed down last year as a result of an increase in the number of births, the Statistical Office said.
Estonia’s population numbered 1,340,600 as of Jan. 1, 2008, according to a preliminary estimate by the office.
The difference between the number of registered deaths and births in 2007 was [...]

Standard & Poor’s left Estonia’s sovereign rating unchanged

On 21 January 2008 Standard & Poor’s Ratings Services affirmed its ‘A’ long-term foreign currency rating on the Republic of Estonia. The outlook remained negative.
“The decision by Standard & Poor’s to affirm Estonia’s credit rating on the current level ‘A’ is in line with the assessment of Eesti Pank according to which Estonia’s economic growth [...]

Estonian Funds May Get Right to Invest on Alternative Market

The finance committee of the Estonian parliament has initiated a bill on amendments to the investment funds bill so it would permit funds to invest money also on the alternative market.
The alternative market is an analogue of the securities’ market where it is possible to substantially trade with securities in the same way, but at [...]