Power co approves plans to build shale oil plant

The supervisory board of Estonia’s national power company Eesti Energia approved on Thursday plans to build a shale oil plant using a new, more efficient technology and organize a tender for the construction of up to two new oil shale-fired electricity generation units.
CEO Sandor Liive said the decision to build the complex consisting of the [...]

Fees of public notaries to go up sharply from June 8

Customers of public notaries will shortly have to pay a lot more for a number of services from June 8, writes Eesti Päevaleht.  The higher tariffs apply for services whose fees are established by law such as attesting power of attorneys, handling of inheritance issues, etc.
Notary fees for attesting a real estate transaction will remain the [...]

Deep fall in industrial production

According to Statistics Estonia, in April 2009 compared to April of the previous year, the production of industrial enterprises decreased 34%.

The rapid decrease in industrial production, which had begun at the end of the previous year, continued in April. When in December 2008 the decrease in production was 22% compared to the respective month of [...]

Retail sales decreased, except sales of second-hand goods

According to Statistics Estonia, in April 2009 compared to April of the previous year the retail sales of goods of retail trade enterprises decreased 15% at constant prices.

In April, the retail sales of goods of retail trade enterprises were 4.6 billion kroons. The decrease in the retail sales of goods was most influenced by the [...]

Decline on the construction market is deepening

According to Statistics Estonia, in the 1st quarter of 2009 compared to the same period of the previous year, the total production of Estonian construction enterprises decreased about a third.

In the 1st quarter of 2009 the production value of construction enterprises amounted to 5.0 billion kroons, of which the production value of building construction was [...]

Taxes will go up

The Reform Party agreed yesterday to the demand of the People’s Union, a possible new coalition partner, to balance the budget by increasing taxes, writes Postimees.While until now the Reformists had labelled proposals to increase taxes “a doomsday scenario.” They have no changed their tone and yesterday justice minister Rein Lang said: “I can say [...]

Changes in loan portfolios in line with economic developments

The volume of the portfolio of loans and leasing issued to enterprises and households declined by 1.5 billion kroons, i.e., 0.6% in April with the year-on-year growth rate withdrawing to 0.7%. The development of the banking sector is in line with the current economic situation in Estonia. Thus, it was not surprising the annual growth [...]

Imports from Germany decreased 49pct

According to Statistics Estonia, in March exports of goods from Estonia at current prices declined by one fifth and imports from Estonia by one third compared to March of the previous year. The decline in both exports and imports slowed down.

In March exports of goods totalled 8.3 billion kroons and imports 9.9 billion kroons. The trade [...]

Salaries decreased for the first time

According to Statistics Estonia, in the 1st quarter of 2009, the average monthly gross wages and salaries were 12,147 kroons and the hourly gross wages and salaries were 76.53 kroons. Compared to the 1st quarter of the previous year, the average monthly gross wages and salaries were by 1.5% lower and the average hourly gross [...]

Tax calendar 2009

See here on the website of the Estonian Tax and Customs Board