Estonian Economy and Monetary Policy 3/2024
The Estonian Economy and Monetary Policy is an Eesti Pank review released four times a year that summarises the main recent events in the global and Estonian economies. The review also contains an economic forecast for Estonia.
The global economy has held its course towards growth. The global economy continued to grow in the first half of the year despite monetary policy being tighter. One driver of growth has been the positive impact that falling inflation has had on purchasing power and consumption, in combination with the resilient performance of the labour market. The euro area economy has in contrast proved softer than expected, and the outlook for growth in it has been adjusted to be a little weaker. The lowest point for the economy was reached however last year and the year before, and it is expected that the main target markets for both the euro area and Estonia will grow in future, which should boost the exporting branches of the economy that have faced difficulties.
