06.04.2021
The mood of optimism that prevailed around the world at the start of the year has cooled. It was hoped at the start of the year that the arrival of new vaccines would give effective and immediate help in defeating the Covid-19 pandemic, but unfortunately there were almost immediately problems... more
30.03.2021

The latest economic forecast from Eesti Pank expects the recovery of the Estonian economy will be delayed until the second half of the year, but the recovery will be faster. The central bank estimates there will be two sources of growth in the second half of the year as the restrictions on... more

24.03.2021
  Mari Rell and Maris Leemets Eonomists at Eesti Pank

The latest Competitiveness Report from Eesti Pank describes how total factor productivity is the key to economic growth and to increasing wealth in the future as the population ages in Estonia. Total factor productivity is... more

17.03.2021

The biggest challenges for Estonia have not only appeared with the current crisis but have roots in the Estonian economy going back a long time, and the crisis has only brought them into sharper focus, concluded the economic seminar on growing out of the crisis held on Wednesday by Eesti Pank.... more

17.03.2021

Estonia and the euro area as a whole are facing not only a healthcare crisis, but also structural problems, and resolving them will need us to invest in projects that will support growth in the future, said Madis Müller, Governor of Eesti Pank, at an online seminar on growing out of the crisis... more

17.03.2021

Madis Müller, Governor of Eesti Pank and member of the Governing Council of the European Central Bank

17 March 2021

I have promised to talk today about the state of the economy and the role of the central bank in exiting the crisis. Tomorrow will mark exactly one year since we... more

01.03.2021
Kaspar Oja Economist at Eesti Pank

Estonian GDP was 1.2% smaller in the fourth quarter of last year than it was a year earlier. Growth was reined back by branches of the economy that were subject to restrictions, such as accommodation, food service and entertainment. GDP... more

18.12.2020
A second wave of the coronavirus has pushed the global economy back into recession in the final third of the year. After the outbreak of the disease in spring faded and restrictions were eased, the global economy recovered quite strongly. The global purchasing managers index still showed in early... more
16.12.2020

The latest economic forecast from Eesti Pank expects the Estonian economy to recover from the crisis in 2021 and to return to where it was before the crisis in the second half of next year. The outlook for the Estonian economy is uncertain though, as the pandemic remains impossible to predict... more

30.11.2020
Kaspar Oja Economist at Eesti Pank

Data from Statistics Estonia put Estonian GDP down 1.9% over the year in the third quarter, but up 3.3% on the previous quarter. This performance is better than that outlined in the baseline forecast scenario and is closer to that in the... more

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