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Tuesday, 09.06.2026, 07:00
Ernst & Young cuts Estonia's economic growth forecast for 2013
BC, Tallinn, 20.06.2013.
Print version
Print versionConsultation company Ernst & Young forecasts Estonia 2.8% economic growth for the year 2013, a bit less than it forecast in March, LETA/Public Broadcasting reports.
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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."
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