Analytics, Economics, Estonia, GDP

International Internet Magazine. Baltic States news & analytics Tuesday, 29.07.2014, 17:46

Ernst & Young cuts Estonia's economic growth forecast for 2013

BC, Tallinn, 20.06.2013.Print version
Consultation 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.

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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