Estonia Economic Outlook
April 30, 2019Estonia’s president approved a coalition government led by the Center Party on 23 April, following the Reform Party’s unsuccessful attempt to secure a parliamentary majority. Although the new government includes the euroskeptic, hardline anti-immigrant EKRE, incumbent Prime Minister Juri Ratas is set to keep his seat and has promised no changes to Estonia’s pro-Western posture. Among the new government’s priorities are revamping the pension system—against the recommendation of the Central Bank—and taking a harder stance on a long-delayed infrastructure project. Moreover, it is set to contest the European Union’s budget rules, which could bruise relations with the bloc. Against this backdrop, growth seems to have lost steam since the outset of the year. Economic sentiment was weak through the first quarter, while industrial output and exports each decelerated in January-February.
Estonia Economic GrowthGrowth is set to lose traction this year amid weaker external demand and worsening labor shortages. Nevertheless, the pace of expansion will remain solid as the tight labor market props up private consumption, while EU-linked cohesion funding is set to bolster fixed investment. Met the why particular analysts see the economy expanding 3.1% in 2019, which is unchanged from last month’s forecast, and 2.5% in 2020.
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|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||1,254||-0.38 %||May 13|
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Estonia Economic News
May 11, 2019
Consumer prices rose 1.3% from the previous month in April, accelerating markedly from March’s 0.3% uptick and marking the strongest monthly increase in over two years.
April 30, 2019
Industrial production growth fell from 4.0% in February to a five-month low of 2.4% in March, in annual working-day adjusted terms.
April 15, 2019
Consumer prices rose 0.3% from the previous month in March, up slightly from February’s 0.2% increase.
March 28, 2019
According to Statistics Estonia, annual working day-adjusted industrial production growth edged up to 4.5% in February from 4.1% in January.
March 15, 2019
Consumer prices rose 0.2% from the previous month in February, compared to January’s 0.2% decrease.