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Saturday, 20.09.2014, 12:55
In its fresh economic report made public on Thursday, the European Bank for Reconstruction and Development (EBRD) reduced Estonia's economic growth forecast by one percentage point compared to the spring forecast, to 1%, LETA/Postimees Online reports.
Keyword tags: Analytics, Economics, EU – Baltic States, GDP
At the Tuesday cabinet meeting, the Estonian government reached an agreement on next year's state budget revenue and expenditure – the state budget volume is 8.5 billion euros, and the government sector has a 0.8% of GDP structural surplus, reported LETA the government communications unit.
According to the calculations of the Estonian Budgetary Council, there is a high risk in the years 2014-2015 that the government estimates the actual structural budget surplus to be bigger than it really is, LETA/Public Broadcasting reports.
Estonian central bank Eesti Pank reported that corrected GDP announced by Statistics Estonia this week is more in line with other economic figures, informs LETA.
According to the second estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 2.4% in the 2nd quarter of 2014 compared to the 2ndquarter of the previous year.
Private consumption, which has been growing more quickly than was expected, and investment will continue to be the main driving force of Lithuania's economy; however, poorer export development, particularly due to the trade restriction with Russia, will lead to slower economic development than was previously projected, reports LETA/ELTA.
Statistics Estonia revised the national accounts time series from 2000 onwards. Ensuing from all the corrections, the annual gross domestic product (GDP) at current prices changed, on average, by 1% in 2000–2013.