Estonia is going through a global pandemic with wide-ranging economic consequences that will leave the economy 10% smaller than it was last year if the virus fades away and restrictions are not re-imposed. The economy has already started to recover as the restrictions that have been introduced... more
The Supervisory Board of Eesti Pank decided at its meeting on Tuesday to transfer 18.9 million euros of its profit from last year to the state budget. This is three quarters of the undistributed profit of the bank of last year, which is the maximum amount that the law permits Eesti Pank to give... more
Governor of Eesti Pank Madis Müller, who attended the meeting of the finance committee of the Riigikogu on Tuesday, said it was important right now to focus on steps to support the economy that would give immediate help to people and companies in coping with the crisis.
He explained it... more
At the regular meeting of the Supervisory Board of Eesti Pank on Tuesday, the board confirmed the current strategy for profit distribution, whereby the central bank gives the state between 0 and 25% of its profit from the previous year.
The Supervisory Board will start to discuss the... more
- The Estonian economy will grow by 3.4% this year and 2.3% in 2020
- Growth in the economy will slow in the next three years as the outlook for foreign markets is poor and the previously strong growth in employment will start to fade
- Unemployment will rise in... more
The Estonian economy will grow by 3.3% this year and 2.1% next. Growth in the economy will slow as export markets are weaker than before and there are still shortages of labour in Estonia. Wages will continue to rise despite the slower economic growth, but they will do so at a lower rate. Rising... more
The mandates of the six experts who make up the Estonian Fiscal Council will end in the middle of May this year. The Supervisory Board of Eesti Pank this week approved the proposal of the Governor of the central bank that the same experts should remain in post for the next five years.
Growth in the Estonian economy will slow in the coming years to 2%, but the economy will continue to perform better than the average, and so it would be a mistake to pamper it further by running a deficit in the general government budget. Any such deficit would heat further the already... more
- The central bank has allocated one quarter of last year’s profit, or 3.5 million euros, to the state budget
- Eesti Pank’s capital has increased by around 0.5 billion euros and the long-term goal is to increase its capital to 1.5 billion euros
- Eesti Pank’s share of the... more