Analytics, Economics, Estonia
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Sunday, 05.05.2024, 10:21
Economic growth in 2007 was 7.1% in Estonia
Juhan Tere, BC, Tallinn, 16.05.2008.
Print version
Print versionAccording to an economic overview recently compiled by the Ministry of Economic Affairs and Communications of Estonia, the deceleration of economic growth last year was based on decreasing growth in domestic demand.
The slowing down of domestic demand in turn was caused by deceleration in the growth pace of private consumption and investments, writes Postimees Online.
In comparison to the year 2006 the proportion of domestic demand fell by 1.4 percentage points, having remained solid until the beginning of the year 2007 and starting to fall after that.
Low real economic growth was contributed to by the declining confidence of residents as well as by surging consumer prices. In the year-on-year comparison, however, the consumption grew by 8.9 percentage points.
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