Estonian Economy and Monetary Policy 2/2011Estonian Economy and Monetary Policy 2/2011CONTENTSECONOMIC FORECAST FOR 2011-2013 Summary EXTERNAL ENVIRONMENTBox 1: Monetary policy environment in the euro area (as at 9 December 2011)BASELINE FORECAST SCENARIOEconomic activity Domestic demand Private consumption Investment Inventories External balance and competitiveness Labour market Employment and productivity Unemployment Wages and labour costsBox 2. : Labour market flows and long-term unemployment in Estonia before and after the recession PricesFood Energy Core inflation Indirect taxes General government General government revenues General government expenditures Fiscal balance and debt Banking sector and financing of the economy Credit supply Credit demand ALTERNATIVE FORECAST SCENARIOFull text (pdf, 1 Mb)FailidEstonian Economy and Monetary Policy 2/2011 (full text)Economic Forecast for 2011-2013