The decline in GDP over the year is slowing
Data from Statistics Estonia show that GDP was down 0.7% over the year in the third quarter and was...

ECONOMIC FORECAST. Orderly state finances will lay better foundations for growth in the economy
The latest economic forecast from Eesti Pank finds that the economy has started to grow again, but...

The level of investment demonstrates that businesses have confidence in the economic recovery
Data from Statistics Estonia put Estonian GDP down 1% over the year in the second quarter, and at...

ECONOMIC FORECAST. Eesti Pank forecasts that the economy will return to growth in the second half of the year
The latest economic forecast from Eesti Pank expects the economy to revive in the second half of...

We are closer to achieving price stability says Madis Müller
High inflation in the euro area and Estonia has come down because energy prices have fallen and also...

The economy should return to growth in the second half of the year
Data from Statistics Estonia show that GDP in Estonia was 2.4% less in the first quarter than a year...

Decisive steps will be needed for Estonia to recover its competitiveness says the IMF
Estonia’s loss of competitiveness is only partly a consequence of the recent crises, and solving the...

Republic of Estonia: Staff Concluding Statement of the 2024 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

ECONOMIC FORECAST. The economy is on the threshold of growth
The latest forecast from Eesti Pank finds that after two years of recession, conditions have...

Conditions have improved for growth in the economy to recover says Madis Müller
The economy in the euro area and in Estonia will remain weak this year, but the conditions have...

It is difficult to measure growth in the economy at present
Statistics Estonia estimates that Estonian GDP shrank by 3% in total in 2023. GDP in the fourth...

ECONOMIC FORECAST. The recession is dragging on
The latest economic forecast from Eesti Pank finds that the recession in the Estonian economy will...

The continued decline in exports is not a good sign says Madis Müller
Growth in the wealth of Estonia depends on whether Estonian companies and the Estonian economy can...

Madis Müller: the issues that shape the capacity for growth in the Estonian economy
Speech by Madis Müller, Governor of the Bank of Estonia December 8, 2023 The Estonian economy...

The recession reflects the loss of competitiveness
Estonian GDP in the third quarter was 3.9% smaller than a year earlier and 1.3% smaller than in the...

Eesti Pank forecasts that the economy will find recovery tough
The latest economic forecast from Eesti Pank expects the Estonian economy will start growing again...

There is no immediate sign of the economy recovering rapidly
Estonian GDP shrank by 2.9% over the year in the second quarter, and by 0.2% over the quarter. This...

ECONOMIC FORECAST. Lower inflation in the second half of the year will support growth in the economy
The latest economic forecast from Eesti Pank finds that the Estonian economy is doing satisfactorily...

The decline in the economy in the first quarter was unexpectedly small
Data from Statistics Estonia show that Estonian GDP was 3.2% smaller in the first quarter than it...

The IMF recommends that Estonia start reducing its budget deficit already this year
Estonia should start reducing the state budget deficit already this year in order to slow down...

Republic of Estonia: Staff Concluding Statement of the 2023 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

ECONOMIC FORECAST. The economy will improve this year
The latest economic forecast from Eesti Pank finds that conditions are improving for a recovery in...

The fall in exports is hurting GDP
Data from Statistics Estonia show that the Estonian economy shrank by 1.3% last year, with the...

Inflation in Estonia has lost momentum says Ülo Kaasik
“Inflation has not notably risen in Estonia since last August, and there are grounds to believe that...

Eesti Pank forecasts that the full impact of the energy crisis is only starting to be felt by the economy
The latest economic forecast from Eesti Pank finds that consumption will be reduced by high...

High inflation has made the economy more vulnerable
Data from Statistics Estonia show that Estonian GDP was 2.4% smaller than a year earlier in the...

Companies need to find their own formula for adapting says Ülo Kaasik
Deputy Governor of Eesti Pank Ülo Kaasik said that the ability of companies to adapt will be...

Both the central bank and the government need to take steps to combat inflation
The outlook for the Estonian economy depends above all on the future rate of inflation. Estonia has...

More expensive energy will probably cause a recession in the second half of the year
Data from Statistics Estonia show that gross domestic product in Estonia was up 0.6% over the year...

The broader impact on the economy of Russia’s war will be felt in the second half of the year
The Estonian economy started the year in a very strong position, but growth in it will slow. Growth...

The economy remained strong in the first quarter
The Estonian economy grew by 4.3% over the year to the first quarter, and by 0.1% over the fourth...

Speech by the Governor of Eesti Pank to the Riigikogu Presentation of the Annual Report of Eesti Pank for 2021
Honourable President of the Riigikogu, Distinguished Members of the Riigikogu. Once a year Eesti...

Each additional euro injected in the economy must be well targeted says Ülo Kaasik
Eesti Pank is forecasting that inflation in the Estonian economy this year will average above 10%,...

Russia’s invasion of Ukraine will affect the Estonian economy through supply difficulties and higher inflation
How the Estonian and global economies perform will for the time being be steered by Russia’s...

Economic growth will slow
Growth in the economy in 2021 exceeded expectations, but it will be slower from here on. The...

The high rate of inflation should abate in the second half of next year
The latest economic forecast from Eesti Pank expects that the economy will grow by 8% this year, but...

Inflation and supply difficulties are impeding the capacity for further economic growth
Growth remained very fast in the economy in the third quarter at 8.6% over the year, and it was...

Experts and politicians considered how labour migration affects the Estonian economy
A seminar was held at Eesti Pank on Friday to discuss how labour migration affects the future of the...

Responsible fiscal policy would help keep faster inflation in check
Estonian Economy and Monetary Policy 3/2021 The latest economic forecast from Eesti Pank...

Future growth in the economy will depend on supply chains operating reliably
The rapid yearly growth of 12.9% in the Estonian economy is due to the low reference base, as the...

With growth strong after the pandemic, we must not overlook the risk of overheating, says Ülo Kaasik
“The Estonian economy suffered less from the pandemic crisis than the average in the euro area and...

Private consumption will give a powerful short-term boost to economic growth
The Estonian economy had reached its pre-crisis level at the start of this year and the recovery...

GDP growth has exceeded expectations
The rapid growth in the economy in the first quarter of this year came mainly from an improvement in...

Estonia's strength during the crisis has come from integration and cooperation says Madis Müller
New opportunities for Estonian businesses have emerged during the Covid-19 crisis as global supply...

Growth in the Estonian economy in the fourth quarter was aided by the lack of restrictions
Kaspar Oja Economist at Eesti Pank Estonian GDP was...

Eesti Pank forecasts that the economy will probably recover to its pre-crisis level in the second half of next year
The latest economic forecast from Eesti Pank expects the Estonian economy to recover from the crisis...

People have become more cautious in their consumption behaviour
Kaspar Oja Economist at Eesti Pank Data from...

The new wave of the pandemic will mean state support needs to be provided flexibly says Madis Müller
Governor of Eesti Pank Madis Müller said in a presentation at a conference on accounting on Thursday...

An uncertain future means we need plans A, B and C says Madis Müller
Governor of Eesti Pank Madis Müller spoke at the Äriplaan 2021 economic conference on Tuesday, where...

The government can dispel the uncertainty about the future
The contraction in the Estonian economy in the second quarter was smaller than had been feared, but...

Future development in the economy will depend mainly on foreign markets
Kaspar Oja Economist at Eesti Pank Data from...

A longer lasting crisis will inevitably lead to changes in the economy
Senior managers of Eesti Pank attended a meeting of the Economic Affairs Committee of the Riigikogu...

The balance between the restrictions and the state aid package will decide the extent of the recession
Like elsewhere in the world, the most topical question affecting the Estonian economy is what impact...

The central bank recommends focusing on easing the immediate impact of the crisis
Governor of Eesti Pank Madis Müller, who attended the meeting of the finance committee of the...

The economy is likely to shrink by more than 6%
The economic crisis has so far affected services businesses and the transport sector the...

Growth in the economy in the fourth quarter was supported largely by the IT sector
Kaspar Oja Economist at Eesti Pank Data from...

Eesti Pank forecasts that the economy will start to lose momentum after running at full power
The Estonian economy will grow by 3.4% this year and 2.3% in 2020 Growth in the economy will...

Growth in the Estonian economy was driven by exporting branches
Kaspar Oja Eesti Panga ökonomist The Estonian economy...

The cooling of the economy will slow growth in wages and prices
The latest economic forecast from Eesti Pank expects the economy to grow by 3% this year, and by...

Growth in wages and consumption is slowing says Ülo Kaasik
Ülo Kaasik Deputy Governor of Eesti Pank After the...

Growth in the economy was boosted by extraordinarily fast growth in a few industries
Kaspar Oja Economist at Eesti Pank Data from...

People and the state could look to make savings in the coming years
The Estonian economy will grow by 3.3% this year and 2.1% next. Growth in the economy will slow as...

Economic policy should not increase uncertainty
Kaspar Oja Economist at Eesti Pank Data from...

The general government budget should be in surplus for the sake of the competitiveness of the economy
Growth in the Estonian economy will slow in the coming years to 2%, but the economy will continue to...

The economy will probably grow more slowly this year
Kaspar Oja Economist at Eesti Pank Growth in the...

The fall in competitiveness in the economy points to trouble ahead
The Estonian economy will grow by around 3.5% this year and next, and by 2020 growth will slow to...

Faster growth in the Estonian economy is an exception in the wider perspective
Kaspar Oja Economist at Eesti Pank Statistics Estonia...

Ardo Hansson: there are no rocky reefs on the horizon, but the tailwind behind the economy is fading
Among the presenters at the Äriplaan 2019 economic conference on Thursday was Eesti Pank Governor...

Using the budget to stimulate the economy was a mistake
Kaspar Oja Economist at Eesti Pank Living...

The Estonian economy is moving from very good times into just good times
Growth in the economy will be around 3.5% in 2018-2019, but it will slow to 2.5% in...

Competitiveness concerns looming for Estonian economy
Kaspar Oja Economist at Eesti...

A cooling of growth in the Estonian economy is to be expected
Rasmus Kattai Economist at Eesti Pank Having grown...

Sustained economic success demands investment
Ülo Kaasik Deputy Governor of Eesti Pank Ülo Kaasik,...

Last year was the most successful since the economic crisis
The economy was driven upwards mainly by a burst of growth in demand Increased investment is...

The IMF recommends the government postpone a part of its planned spending
The International Monetary Fund (IMF) finds that the Estonian economy is performing well, but...

Republic of Estonia: Staff Concluding Statement of the 2018 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

The economy is in unusually good shape
Kaspar Oja Economist at Eesti Pank The good state...

The Estonian economy is reaching the peak of the growth cycle
The economy is in its best position since the crisis The economy will grow more slowly in the...

The economy continues to grow fast
Kaspar Oja Economist at Eesti Pank Slowing growth...

Ardo Hansson: companies have started to invest more
Speaking at the business conference Äriplaan 2018 on Thursday, Governor of Eesti Pank Ardo Hansson...

The economy is sailing with a tailwind
The current rate of growth in the economy cannot be maintained for long The growth in corporate...

GDP growth was largely based on domestic demand in the second quarter
Kaspar Oja Economist at Eesti Pank The output gap...

Economic growth will get a boost from the need to invest in increasing productivity
Growth in the economy has picked up sharply as foreign demand has increased and the problems in...

The size of the economy exceeded its potential
Kaspar Oja Economist at Eesti Pank Growth...

The speed of growth in the Estonian economy is set by the competitiveness of the country and its companies
A favourable external environment has encouraged Estonian exports and the economy Faster growth...

Ülo Kaasik: companies need certainty about the future for growth to be faster
Speaking at a conference for industry on Thursday, Deputy Governor of Eesti Pank Ülo Kaasik said...

The shortage of investment is a problem in an otherwise strongly growing economy
Kaspar Oja Economist at Eesti Pank Growth in the...

The capacity for growth in the Estonian economy has contracted
Investment has fallen for three years and this has reduced the potential for growth in the coming...

Several indicators must be considered when interpreting economic activity in Estonia
Kaspar Oja Economist at Eesti Pank The economy is...

The IMF is concerned about productivity growth in Estonia
The IMF has concluded their annual official staff visit (or ‘mission’) to Estonia. The...

Increased investment indicates that economic growth may accelerate
Eesti Pank published its review of the Estonian economy in the second quarter on...

The economy is becoming more labour-focused says Ardo Hansson
At the Äriplaan 2017 conference on Wednesday, Governor of Eesti Pank Ardo Hansson spoke of the...

Oil shale sector held back growth in industry
Kaspar Oja Economist at Eesti Pank Economic...

The risk of growth slowing because of the labour market overheating has increased
An improved external environment and higher productivity are boosting economic growth Rising...

Preliminary data show the economy was more in balance in the first quarter than previously
Kaspar Oja Economist at Eesti Pank Retail sales...

Estonian economic growth in 2015 was the slowest of the past six years
Real household incomes and sales by companies in the domestic market have increased rapidly, but...

Wage growth has slowed but remains faster than productivity growth
Orsolya Soosaar Economist at Eesti Pank The...

The sources of growth in the fourth quarter were the same as those in previous quarters
Kaspar Oja Economist at Eesti Pank Expectations of...

Ardo Hansson: The loss of market share for the Estonian exporting sector indicates there are problems with competitiveness
In a presentation at the annual conference of the Estonian Economic Association, Ardo Hansson,...

Despite low GDP growth, households and companies are more optimistic
Kaspar Oja Economist at Eesti Pank The flash estimate...

The IMF puts the capacity for growth of the Estonian economy at up to 3% per year
At the end of its recently finished annual visit to Estonia to assess Estonian economic policy, the...

Republic of Estonia: Staff Concluding Statement of the 2015 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

Long-term economic growth will be built on structural reform, not monetary policy, says Ardo Hansson
At the autumn school of the Institute of Government and Politics of the University of Tartu, held on...

Estonian companies have succeeded in increasing their competitiveness says Ardo Hansson
At the Äriplaan 2016 conference on Wednesday, Governor of Eesti Pank Ardo Hansson spoke of how...

The fall in exports to Russia reduced GDP growth
Kaspar Oja Economist at Eesti Pank The flash estimate...

The strengthening of the European economy was counterbalanced by the falling exchange rate of the rouble
Kaspar Oja Economist at Eesti Pank The flash estimate...

Ardo Hansson: the central bank will not create long-term growth by buying sovereign bonds
Speaking on Tuesday to the finance committee of the Riigikogu about the asset purchase programme of...

The economy grew in the fourth quarter despite the weakness in the external environment
Kaspar Oja Economist at Eesti Pank Data from...

Estonian Economy and Monetary Policy 2/2021
The Estonian Economy and Monetary Policy is an Eesti Pank review released four times a year that...

Estonian Economy and Monetary Policy 1/2021
The mood of optimism that prevailed around the world at the start of the year has cooled. It...