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
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
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
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
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
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
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
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