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Friday, 09.12.2016, 11:44
The current account surplus diminished in the first half of the year, but in the third quarter it was again bigger than at the same time last year. One cause of the increase in the surplus was the broad-based acceleration in growth in exports of goods and services. At the same time, preliminary estimates show investment to have been less in the third quarter than at the same time a year ago, which held back growth in imports.
Keyword tags: Analytics, Banks, Direct Speech, Economics, Estonia, Financial Services, GDP
The surplus on the current account of the Estonian balance of payments reached a record level in the 3Q09.12.2016
The current account surplus was 289 mln euros in the third quarter of 2016, or 5.5% of GDP, having been 3.3% of GDP in the third quarter of 2015. The increase in the surplus was backed by growth in the surplus on goods and services and a reduction in the net outflow of investment income Exports of goods were 4.3 bln euros, and exports of services 3.9 bln, as exports grew at an accelerating rate. The net outflow of investment income fell by 15%.
Estonia's state-owend Tallinn Airport is to borrow more money in 2016-2020 for a 172 mln euro investment project in addition to the 30 mln euros it loaned from the European Investment Bank (EIB), but the volumes or lenders are not clear yet, reports LETA.
At a meeting of the Estonian Payment Environment Forum in Eesti Pank, the commercial banks confirmed that interbank payments have been being made earlier in the morning since 21 November 2016. Clients can now receive payments to their accounts from another bank earlier on the mornings of working days than before. This is one of the biggest changes affecting the speed of payments since the Estonian banks joined the Single Euro Payment Area (SEPA).
The latest data of the Central Statistical Bureau (CSB) show that during the year* (in November 2016, compared to November 2015) the average level of consumer prices increased by 1.3%. Prices of goods grew by 0.6% and prices of services by 2.9%.
The Culture Ministry believes that Riga Circus is in need of change - it has to become a multifunctional, contemporary circus, art, music and dance venue, writes LETA.
Continuing in the tradition of making a selection of calls aimed at provoking conversation on what might surprise or shock the investment returns in the year ahead this year’s predictions cover a range of scenarios, including a Chinese growth rebound, an Italian bank rally, Brexit giving way to Bremain and the EU’s willingness to change in the face of populist backlash, among others. The Outrageous Predictions should not be considered Saxo’s official market outlook, it is instead the events and market moves deemed outliers with huge potentials for upsetting consensus views.
Investors are interested in investing in the Baltic states, but Latvia does not offer officially defined arguments why investments should be made in Latvia, said Klavins Ellex lawyers office's partner Raimonds Saidins in an interview with LETA.
Specialists of the Rietumu Group have prepared a new review on the profitability of investment funds of Rietumu Asset Management in November. The review includes an analysis of key economic indicators and monetary policy. It provides comprehensive information on the situation on stock markets, bond, currency and commodity markets. The review is accompanied with extensive comments from experts.
- The former leader of the Center Party, Edgar Savisaar, searched for opportunities as recently as in 2014 to get money for the Center Party's pre-election campaign from the Kremlin sponsored ruling party of Russia, Postimees said in its Wednesday edition citing LETA/BNS.
At the beginning of November 2016, tax debts in Latvia totaled EUR 1.37 bln, up 0.007 % month-on-month, according to the information released by the State Revenue Service writes LETA.
Balta non-life insurer has paid a EUR 4.85 mln indemnity to Latvijas Finieris wood processing company for the damage brought by a fire that destroyed the company's Lignum plant in 2014, reports LETA.
During the first 11 months of this year, motorists paid EUR 2,880,949 in fines for violations recorded by speed cameras on Latvia's motor roads, Normunds Krapsis, a representative of the public order department of the State Police, told the Road Traffic Safety Council today.
he Estonian National Audit Office says in its fresh audit regarding foreign investments of the state-owned energy company Eesti Energia that although generally everything is correct, the company as well as the Ministry of Economic Affairs and Communications should have considered the Utah project investment more and in the future major projects should be developed with the smallest possible risks and expenses and carried out in stages, reports LETA/BNS.
Berlin-based banking startup N26 is expanding into nine further European countries, including Estonia, reports LETA/BNS.