World Bank: Estonia next to adopt the euro

Estonia is set to become the next euro member as years of fiscal prudence help it to recover faster than neighboring Latvia and Lithuania, a World Bank economist said, reported Bloomberg.
“It’s doing everything it can to keep the deficit within 3 percent of GDP this year,” Thomas Laursen, the World Bank’s country manager for Poland [...]

Sustainability of Estonian economy among best in EU

A sustainability analysis of the EU public sector shows that Estonia’s risks in the sphere are small and the adjustments needed to ensure sustainability are some of the smallest in the European Union (EU). It appears from a recent analysis that if in the EU on average the sustainability gap, the effort to put public [...]

Economic adjustment continues as expected

According to the flash estimate of Statistics Estonia, the third-quarter GDP was 15.3% smaller year-on-year. The difference is still big compared to the previous year, but the economic contraction has been steadily slowing. Compared to the second quarter, GDP was 2.8% smaller.
Since trading activity is resuming in the global economy, it is likely the exports [...]

Decline in the economy decelerated in the 3rd quarter

According to Statistics Estonia, by flash estimates, the gross domestic product (GDP) of Estonia decreased by 15.3% in Estonia in the 3rd quarter of 2009 compared to the same quarter in the previous year.

In the 1st quarter of the current year the GDP decreased by 15.0% and in the 2nd quarter by 16.1%.
Compared to the [...]

Estonia’s economy to grow in the next two years

Deputy Governor of Eesti Pank Märtne Ross said at a presentation to foreign analysts and journalist in Helsinki that Estonia’s economic growth would be around 1 % in 2010 and close to 5% in 2011.
“Economic growth plays an important role in the recovery of foreign demand, since most of the Estonian economy is closely integrated in the supply [...]

Dairy products 16 pct, vegetables 21 pct cheaper than last year; rents have fallen 33 pct

According to Statistics Estonia, the consumer price index decreased 2.2% in October 2009 compared to October 2008 and 0.1% compared to September 2009.

Compared to the same month of the previous year, the consumer price index decreased for the first time by more than 2%. Goods were 3.1% and services 0.5% cheaper compared to October of [...]

Sustainability has both positive and negative trends

According to Statistics Estonia, during the last decade Estonia experienced a fast progress towards economic welfare, but the same cannot be said in regard to social coherence, ecological balance and developments in the cultural space. Nevertheless, both negative and positive trends can be witnessed in all these spheres.

The Estonian National Strategy on Sustainable Development targets [...]

IMF: Estonian financial sector is stable and strong

The Estonian financial sector is stable and strong, the head of the visiting IMF delegation Christoph B. Rosenberg said in a meeting with President Toomas Hendrik Ilves on Wednesday.
The meeting focused on Estonia’s responsible budgetary policy and its continuation, which is a key to recovering from the crisis and achieving the goal of joining the [...]

IMF praises Estonia’s economic policy

Estonia’s economic policy during the global economic crisis won praise at the finance minister’s and central bank governor’s meetings with leaders of the International Monetary Fund and the head of its European division.
“The IMF expressed support for both Estonia’s economic policy so far and Estonia’s goal to adopt the euro as soon as possible. Given [...]

Estonia close to meeting the Maastricht criteria

Economic recovery in Estonia will be lead by the exporting sector. Several forward-looking indicators give reason to hope the worst of the global recession is over by now, whereas risks related to economic resumption have not yet withdrawn. Confidence in our region and in the Estonian economy has also not fully recuperated. When the global [...]