Government reaches agreement on state budget strategy
The government on Wednesday reached an agreement on Estonia's budget strategy for 2018-2021, which will be the basis of the state's financial plans for the next four years.
Budget deficit a possibility again
The cabinet has decided to relax the strict fiscal balance dogma of recent years. President of the Bank of Estonia Ardo Hansson perceives several dangers.
06.04.2017, Lennart RuudaPM
ICT pulling economic growth
Economic growth of 2.7 percent in the final quarter of 2016 took many analysts by surprise. Experts highlight the rise of the information and communication technology sector as the new locomotive of growth in Estonia.
01.03.2017, Lennart RuudaPM
Exchange needs major companies to attract investors
Even though head of Tallinn stock exchange, Kaarel Ots, says the market is doing better than three to five years ago, the situation still isn't good. The market value of listed companies comes to just 10 percent of GDP. The corresponding figure in Europe is 50 percent.
19.10.2016, Tõnis OjaPM
Fraudster, saint or two-faced Janus?
Court verdicts say that the businessman Raivo Paala is a hardened veteran fraudster who has tried to cheat the state with hundreds of millions of euros. Meanwhile, Mr Paala has this other face of an uncompromising fighter for human rights.
14.04.2016, Nils NiitraPM
Iran is interested in Estonia
The first ever Estonian politician to officially visit Iran, foreign minister Marina Kaljurand was soon to experience a plague of the exhaust-smoky Tehran streets called traffic jam.
11.04.2016, Kadri VeermäePM
Estonian economy grew 1.1 pct to EUR 20.5 b in 2015
The gross domestic product (GDP) of Estonia increased by 1.1 percent in 2015 over 2014, and the size of GDP at current prices was 20.5 billion euros last year, Statistics Estonia said on Thursday.
Euro didn't raise the prices after all
Five years ago, soon after the retailers said euro would not raise the prices, the statement turned into a joke among the people. Just before the switch, chamber of commerce and industry initiated a campaign aimed at avoiding unsubstantiated rise of prices of goods and services while the euro was being adopted in 2011.
07.01.2016, Tõnis OjaPM
Estonian parlt adopts 2016 state budget
The Estonian parliament on Wednesday adopted the 2016 state budget, the volume of which is projected to total 8.92 billion euros and its receipts 8.84 billion euros.
Estonia emerges as Baltic laggard
Two summers ago as it was already known that Latvia was joining the euro, consultancy EY Estonia head Ivar Kiigemägi predicted this was Estonia's last year with fastest growth in eurozone. He was right.
23.11.2015, Tõnis OjaPM
New budget head sees trouble ahead in economy of Estonia
As Estonia's veteran budget watchdog Andrus Säälik assumed post as permanent Estonian adviser at OECD in Paris, his chair in September was filled by Sven Kirsipuu with 18 years at finance ministry under his belt. Tomorrow, state budget undergoes its first reading at Riigikogu. To mark the occasion, we thought we'd ask him how Estonian economy is doing?
19.10.2015, Kadri HansaluPM
Rising defence spending in all of NATO looks unlikely
Though members of NATO pledged last fall to increase their defense spending to 2 percent of their gross domestic products by 2024, it is unrealistic to assume that this goal will ever be reached by all 28 allies, says Carnegie Europe head Jan Techau.
19.10.2015, Evelyn KaldojaPM
Editorial: Europe, pay up for your defence
At NATO summit in Wales a year ago, all 28 members vowed to boost defence spending to a minimum of 2 percent of gross domestic produce in ten years. Think-tank Carnegie Europe's analysis «The Politics of 2 Percent: NATO and the Security Vacuum in Europe» compiled for its first anniversary finds the hope all reach the goal is overly optimistic. The analysis underlines the thus greater need to focus on what Europe needs to do to fill the vacuum.
Editorial: what do we christen this Budget?
Each fall, politicians and at times even observers are seeking a name for the state budget to sum up its fundamental features, or flaws. This time, both pros and cons will be hard pressed as substantial surprises are difficult to detect.
Estonian guys tower among the tall in Europe
Untriumphant at European championships in basketball, Team Estonia was sadly short in eyes of media and coaches. In 2010, the basketball union went as far as to proclaim a find-the-tall campaign. So are male Estonians shorties?
22.09.2015, Nils NiitraPM
Editorial: aiding Athens. Again
The debate over Package No 3 for Greece at Estonia's Riigikogu was filled with high sounding terminology as «faith» and «believe» kept popping up constantly.
Swedbank raises Estonia's economic growth estimate to 2.1 pct
Swedbank has raised its economic growth forecast for Estonia to 2.1 percent from 2 percent it offered in January.
Estonia won't achieve budget surplus before 2018
Revenues of the Estonian state budget will not surpass expenditures until 2018 and the nominal budgetary position is estimated to have a deficit of 0.5 percent of GDP this year, 0.6 percent next year and 0.5 percent in 2017.
In issues of security, unity
Reform chairman Taavi Rõivas said that they, Soc Dems, IRL and the Free stand united regarding vital importance of allied relations in NATO as well as enhancing capacity of Estonian national defence. Thus, the coalition discussions on security and defence proved harmonious.
10.03.2015, Karin KangroPM
Editorial: see you in four months … or sooner
To a bystander, Greece and the so-called troika – European Commission, European Central Bank and IMF – long look like the cacophonic quartet from a parable by Ivan Krylov. Which, as we know, ended in the morale: change the seating if you like, the sound gets no nicer.
«Estonia 2020» vision begs extra guts
Five years ago, Estonia set itself a goal-of-decade to improve competitiveness. Half way, the aims have largely been reached while the weightiest – raising labour productivity to 80 of EU average – may remain a dream without radical steps taken.
07.01.2015, Oliver KundPM
So how much poorer than Finns are we, actually?
While by gross domestic product dwellers of Finland are thrice as rich as us, in purchasing power Estonia is beaten by 1.5 times only.
17.11.2014, Tõnis OjaPM
FinMin forecasts 1.5 pct economic growth for 2014
After a change in the time series of the gross domestic product Estonia's 2014 economic growth could total 1.5 percent, the Ministry of Finance forecasts.
Estonian economy grows 2.1 pct on year in Q3 - preliminary
The gross domestic product of Estonia increased 2.1 percent in the third quarter of 2014 compared to the same quarter of 2013, a flash estimate published by Statistics Estonia on Tuesday shows.
Sanctions no big damage to EU
European Commission Deputy Secretary-General Henrik Hololei says repercussions from Russian sanctions do show most in EU agriculture, but financial indicators reveal technology to be worst affected.
11.11.2014, Tõnis OjaPM
Financing Estonia: Norwegian and Swiss aid not forever?
Thus far, Switzerland and Norway have supported Estonia with dozens of millions of euros. In all likelihood, Swiss grants are hanging on a referendum.
10.11.2014, Tõnis OjaPM
Swedbank raises Estonia's 2014 growth forecast to 2 pct
Swedbank has raised its economic growth estimate on Estonia for this year from 0.8 percent to 2 percent.
To every mouth a morsel
Predictably, the budget bill shaped with general elections in mind is cautious yet bursting with good news. In it, chief promises by both coalition buddies are fulfilled, such as the lowering of income tax rate (squirrels) and rising of child benefits (soc dems).
24.09.2014, Kadri HansaluPM
Editorial: economy afloat
In spring, finance ministry set this year’s Estonian real terms GDP growth at 2 percent. Yesterday, they issued a figure more realistic – 0.5 percent. Figuratively speaking, this year our economy keeps afloat – the nostrils, at least, above water. And that’s basically all. Beholding the neighbouring economies, not much hope any would assume the role of an engine to be pulling us along.
The budget brings quite a headache
Money «pre-eaten» by costly coalition promises and nearly nonexistent economic growth.
18.08.2014, Kadri HansaluPM
In the 2nd quarter economy increased 2.2%
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 2.2% in the 2nd quarter of 2014 compared to the same quarter of 2013.
Economic growth decreased in the 1st quarter
According to the second estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia decreased 1.4% in the 1st quarter of 2014 compared to the 1st quarter of the previous year.
Editorial: winter wilts Estonian economy
Initial data tells us Estonia’s GDP shrunk 1.9 percent year-on-year in opening quarter of 2014. The tradition is to call it a recession if decline persists for two quarters running. No need to sink deep into pessimism just for January-March alone; even so, those that deemed the finance ministry’s 2014 growth forecast cut by two percent too optimistic still have scored a point.
Estonia richer by fifth thanks to EU
Since joining European Union in 2004, the topmost winners are Latvia, Poland and Estonia. This is the conclusion arrived at, in April, by economists Nauro Campos, Fabrizio Coricelli and Luigi Moretti, using a method comparing actual gross domestic products per person with indicators in case not joining EU in said year.
29.04.2014, Oliver KundPM
Ukraine not reckoned in Estonian economic forecast
Probably, the freshly cut 2014 economic forecast by finance ministry is still too optimistic.
08.04.2014, Liina ValdrePM
Editorial: bursting the hope bubble
Ministry of Finances has cut this year’s economic growth forecast for Estonia. Instead of the 3.6 per cent growth predicted in September, the ministry now expects a growth of 2.0 per cent. Behind the changes, there lay the shrinking expectations regarding export partners.
Entrepreneurs of Estonia: vaccinated by Russia, against Russia
Above all, Estonia sells food products into Russia, while mostly buying their gas and petroleum oil.
25.03.2014, Nils NiitraPM
Growth gets stalled
Statistical Office says Estonia’s 2013 final quarter initial GDP growth remained flat, year-on-year. Overall, economy only expanded 0.7 per cent from 2012 to 2013.
12.02.2014, Liina ValdrePM
Economic growth stopped in the 4th quarter
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia in the 4th quarter of 2013 stayed at the same level compared to the 4th quarter of 2012. In 2013, the Estonian economy grew 0.7% compared to the previous year.
In the 3rd quarter the economic slowdown continued
According to the second estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 0.7% in the third quarter of 2013 compared to the same quarter of the previous year.
Swedbank cuts Estonia's growth forecast to 1.9 pct
Swedbank published a fresh economic outlook on Tuesday showing its real GDP growth forecast on Estonia for this year at 1.9 percent, almost half lower than the growth estimate of 3.3 percent published in April.
SEB slashes Estonia's 2013 GDP growth estimate from 3.3 to 1.5 pct
SEB in its fresh economic outlook expects the Estonian economy to grow 1.5 percent this year compared with a forecast of 3.3 percent held out in May.
Estonian economy grew 1.3 pct in Q2 - preliminary
The gross domestic product of Estonia increased by 1.3 percent in the second quarter compared to the same period of the previous year, a flash estimate published by Statistics Estonia on Monday shows.
Bank of Estonia lowers economic growth forecast to 2 pct
The Bank of Estonia lowered its December forecast of the gross domestic product growth from 3 percent at constant prices to 2 percent.
In the 1st quarter the economic growth rate slowed down
According to the second estimates of Statistics Estonia, in the 1st quarter of 2013 compared to the same quarter of the previous year, the gross domestic product (GDP) grew by 1.1%.
Analysts expect Estonia's GDP figure to be upped by a few points
While according to a flash estimate by Statistics Estonia the gross domestic product (GDP) of Estonia in the first quarter of 2013 grew 1 percent compared with the same three-month period a year ago, analysts at the country's major banks expect this figure to be revised upwards by a couple of percentage points.
Ardo Hansson: the central banks of the euro area have been successful
On Tuesday Ardo Hansson, the Governor of Eesti Pank, presented the central bank's annual report to the Riigikogu and said that the results of the efforts by the central banks of the euro area have been that inflation has been kept under control in the euro area and financial markets have become less fragmented.
SEB lowers Estonia's growth forecast to 3.3 pct
SEB Pank has curbed its economic growth estimate on Estonia for 2013 to 3.3 percent from the forecast of 3.8 percent published in March.
Estonian PM: Two percent of GDP for national defense is imperative
Defense spending amounting to 2 percent of Estonia's gross domestic product is an absolute necessity, Prime Minister Andrus Ansip said on Friday.
EP: economic growth reflects a slowdown in investment growth
The flash estimate from Statistics Estonia shows the Estonian economy growing in the first quarter by 1% year on year, and shrinking by 1% quarter on quarter.
13.05.2013, Kaspar Oja, Economist at Eesti PankPM
Economic growth decelerated in the 1st quarter
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 1% in the 1st quarter of 2013 compared to the same quarter of the previous year.
Commission leaves Estonia's 2013 growth estimate unchanged at 3 pct
The European Commission in its spring economic forecast published on Friday upheld the 2013 economic growth estimate of 3 percent offered on Estonia in its winter forecast.
Swedbank ups GDP growth estimate for Estonia to 3.3 pct
Swedbank has raised its estimate for Estonia's 2013 economic growth to 3.3 percent from the forecast of 3.1 percent issued in January.
Ardo Hansson: rapid economic adjustment helps prevent reform fatigue
At Eesti Pank on Wednesday Ardo Hansson, Governor of the central bank, compared the economic adjustment made in the Baltic States with that in Greece, Ireland and Portugal. He said that rapid economic adjustment helped prevent reform fatigue, the build-up of excessive debt and the economic damage caused by a prolonged period of uncertainty.
Ministry: Estonian economy’s consistent growth will continue in the coming years
According to the spring economic forecast of the Ministry of Finance, the driving force of Estonian economic growth this year is domestic demand, supported by quickening export growth starting from the second half of the year. The Ministry estimates this year’s economic growth to be 3 percent, to be increased to 3.6 percent in 2014.
08.04.2013, Rainer Laurits, Ministry of FinancePM
Nordea lowers Estonia's GDP growth forecast to 3.2 percent
Nordea Pank has lowered the 2013 GDP growth estimate for Estonia to 3.2 percent from December's 3.5 percent in its fresh economic forecast published on Tuesday.
GDP healed, welfare still hurting
Last year’s Estonian gross domestic product (GDP) amounted to nearly €17bn, beating boom-time levels.
12.03.2013, Andrus Karnau, PostimeesPM
Estonia's Q4 GDP growth was linked to several one-off factors - analysts
There were several one-off factors behind Estonia's gross domestic product (GDP) dynamics in the final quarter of last year and growth in 2013 is likely to be of similar size as the full-year figure for 2012, analysts speaking to BNS said on Monday.
In 2012 the economy grew by 3.2%
According to the second estimates of Statistics Estonia, in 2012 the gross domestic product (GDP) increased by 3.2% compared to the previous year. In the 4th quarter of 2012 compared to the same quarter of 2011, the GDP grew by 3.7%.
EC: Estonia growing strongly, in tune with the other Baltic States
On 22 February, the Commission published its first winter economic forecast for the euro area and the European Union as a whole. The forecast covers a wide range of indicators including gross domestic product (GDP), inflation, employment and public finances for 2012‑14.
22.02.2013, European Commission Economic forecastsPM
Estonia's 2012 economic growth surpasses analysts' expectations
Analysts speaking to BNS after the release of Estonia's preliminary economic growth figures for the final quarter and full year of 2012 said that the annual growth rate of 3.2 percent was above the forecasts of their institutions.
EP: Domestic demand alone will not be sufficient to drive economic growth
11.02.2013, Kaspar Oja, Economist at Eesti PankPM
Economic growth continued in the 4th quarter
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 3.7% in the 4th quarter of 2012 compared to the same quarter of the previous year. The annual GDP growth in 2012 was 3.2% compared to the previous year.
Obama nimetas langust katastroofiks
USA uus president Barack Obama ütles, et riigis eelmises kvartalis registreeritud järsk majanduslangus on «edasikestev katastroof» ameerika töölistele, kuid lubas aidata keskklassil raskustest üle saada.
30.01.2009, Oliver Tiks