Analytics, Estonia, Wages

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 01:15

Lipstok: average salary cannot be lowered much anymore in Estonia

Juhan Tere, BC, Tallinn, 25.03.2009.Print version
Andres Lipstok, the Governor of the Estonian Central Bank, claimed the average salary can't be lowered sharply anymore for Estonia's employees, LETA reported, referring to Postimees.ee.

Andres Lipstok.

Wages stopped growing in Estonia during the first couple of months of this year compared to the past year.

 

"One must emphasize that wages in Estonia are still low compared to EU's average. Those entrepreneurs and analysts, who think that Estonia should lower salaries remarkably to remain competitive, are wrong," Lipstok pointed out.

 

He added that Estonia can't and won't be a country with a low-wage level.






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