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E&Y forecasts Estonia 1.6% economic growth in 2014
BC, Tallinn, 19.06.2014.
Print version
Print versionConsultation company Ernst & Young revealed on Thursday a fresh forecast, according to which Estonia will have 1.6% economic growth in 2014, LETA/Public Broadcasting reports.
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Last week, Eesti Pank and Nordea revealed their forecasts of 0.7% and 1.2% respectively.
However, the company stressed that, above all, the Ukrainian conflict and Russia's economic weakness connected to that partly, may make the situation more pessimistic by the time of the autumn forecast.
The euro area is projected to have 1.1% growth.
"It's a joy that could be short-lived, however, if the European Central Bank cannot avoid deflation; further escalation of the conflict in Ukraine can also stop the economic growth," said Ernst & Young.
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