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Swedbank: economy of Estonia will start growing in H2
Juhan Tere, BC, Tallinn, 11.05.2010.
Print version
Print versionSwedbank’s macroanalyst Annika Paabut says that Estonia’s economy should start growing in the second half of the year 2010 due to higher export demand and investments from EU structural funds, LETA/Postimees Online reports.
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| Annika Paabut. |
“The recovery of the Estonian economy will be primarily export-based and the export growth figures have confirmed that too. At the same time, domestic demand will start recovering slowly, that will happen at the end of the year,” said Paabut.
Commenting upon the 2.3% economic growth of the first quarter that the Statistical Office announced today, Paabut said that since both exports and industrial production among GDP components showed a strong growth in the first quarter, it can be assumed that a change of inventories was the main factor in the first quarter.
“In the last quarter of last year, inventories posted a strong growth and thus it can be assumed that a certain correction took place at the beginning of this year.”
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