International Internet Magazine. Baltic States news & analytics
Friday, 21.11.2014, 18:23
Ernst & Young cuts Estonia's economic growth forecast for 2013
While the forecast is smaller than before, it is the biggest among euro area states.
Ernst & Young also forecasts Estonia the biggest inflation in the euro area, 3.2%.
Although unemployment has started to fall and will reach 8.4% by next year, it has also caused a structural workforce deficit.
"Considering all of today's tendencies, we have to say that the situation causes concerns," said Ernst & Young Baltic partner Ivar Kiigemägi. "If productivity doesn't increase in the near future, it can happen that in 3-4 years time we will find Estonia on a much lower position in the economic growth top list."