Analytics, Economics, Estonia
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OECD: economy os Estonia to contract 1.9% in 2008
Juhan Tere, BC, Tallinn, 25.11.2008.
Print version
Print versionEstonia's economy may contract 1.9% in 2008 and 2% in 2009 before growing 2.9% in 2010, the Organization for Economic Cooperation and Development said in its 2008 Economic Outlook report, published on Tuesday.
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"The currency board and the government's commitment to the balanced budget rule limit macroeconomic policy options to support the recovery," the report said.
The country's inflation rate may slow to 5.1% next year and 3.2% in 2010 as the impact of "food and energy prices are passed through," the OECD said. A risk of "accelerated reversal of capital flows remains," which may increase pressure on Estonia's current-account deficit, it said.
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