Kaspar Oja Economist at Eesti Pank

Consumer prices were on average 2.4% higher in June than a year earlier. Inflation, which had been 3.1% in May, was brought down by energy prices rising more slowly. Prices will start to be affected in July by the cut in the rate of excise... more

Kaspar Oja Economist at Eesti Pank

Data from Statistics Estonia show that Estonian GDP was up 4.5% in the first quarter over the year, and by 0.5% over the quarter, adjusted seasonally and for the number of working days. Growth in the economy will slow in future and in this... more

Kaspar Oja Economist at Eesti Pank

Growth in the Estonian economy over the year was 4.2% in the fourth quarter and growth from the third quarter was 2.2%. It is probable that growth will slow during this year though from the impressive rate of recent years to a more normal... more

Kaspar Oja Economist at Eesti Pank

Statistics Estonia estimates that the economy grew by 4.2% in the third quarter over the year. This was a little faster than in the second quarter when the growth was 3.8%. The faster growth in the third quarter was an exception in the wider... more

The labour market review by experts from Eesti Pank covers developments in the supply, demand and prices of labour in Estonia. The central bank observes the labour market for two reasons. Firstly, labour is an important production input, as a change in the supply or activity of labour can... more
Kaspar Oja Economist at Eesti Pank
  •  Living standards in Estonia are at almost 80% of the European Union average
  • Further growth in the economy will be restrained by the fall in investment by companies and the slow growth in productivity
  • The economy... more
Kaspar Oja Economist at Eesti Pank
  • Economic growth is supported by favourable monetary and fiscal policies
  • Potential threats include the political uncertainty in Italy and restrictions on free trade
  • Growth in private consumption and exports... more
Kaspar Oja Economist at Eesti Pank
  • The good state of the economy can be used to provide security for the future
  • The greatest concern in the economy is low productivity
  • The manufacturing sector has lagged behind the rest of the economy in productivity... more
Kaspar Oja Economist at Eesti Pank
  • Slowing growth does not mean that the risk of the economy overheating has disappeared
  • The slowdown in the oil shale sector played an important role in output developments
  • Low productivity remains a problem
  • ... more
Kaspar Oja Economist at Eesti Pank
  • The output gap is positive
  • The economy does not need any additional stimulus
  • Rising export prices are helping profits to recover and are alleviating the imbalances that have built up

Estonian GDP was up... more

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