Today, 11 December, Deputy Governor of Eesti Pank Märten Ross gave a presentation in the Finnish-Estonian Trade Association in Helsinki, introducing the Estonian economic situation.

In the presentation to Finnish enterprisers Ross analysed the Estonian economic position after the withdrawal of the boost, which followed Estonia's accession to the European Union. According to Ross, both the steep deterioration of our main trading partners' economies and the frail position of the international financial system have had an adverse impact on the current economic situation in Estonia.

When commenting on future outlooks, Märten Ross said that the vulnerability indicators that used to haunt the Estonian economy are now rapidly improving. "The strong aspects of our economy, such as the stable financial and monetary system, flexible labour market, and conservative fiscal policy have not disappeared, either," Ross said.

"If we continue pursuing conservative fiscal policy, Estonia will have all the preconditions to be one of the first ones to exit the global economic downturn. The improved outlook for adopting the euro also supports this," Märten Ross commented on Estonia's possibilities for improving its economic situation.