On March 11, a court declared AS E-Piim Tootmine bankrupt and appointed Indrek Lepsoo and Olev Kuklase as the company’s bankruptcy trustees. During the bankruptcy proceedings, the company’s financial situation will be determined, including the extent to which creditors may recover their money and how assets might be sold to do so. Negotiations among E-Piim…
Nearly EUR 2.07 billion remained unused in the state treasury in the past fiscal year, which was mostly due to the slow movement of European Union funds, Aivar Soerd (Reform), a member of the Riigikogu Finance Committee, said. The Ministry of Finance gave the Finance Committee an overview of the 2025 budget surplus, which, according…
Industrial enterprises produced 5.9% more in January at constant prices than at the same time in 2025. Output increased in all three industrial sectors: mining, manufacturing and energy. Output in mining rose by 10.7%, manufacturing by 3.1% and energy production by 21.7%. Riin Kadarik, a leading analyst at Statistics Estonia, noted that the volume of…
South Korean defense industry giant Hanwha Aerospace has announced a major direct investment package of nearly EUR 100 million to support Estonia’s defense industry and technological independence. According to the company, the goal is to strengthen Estonia’s technological sovereignty and establish a regional center for territorial defense systems in the country. Including associated economic impacts…
Statistics Estonia said on March 2 that the final figure for last year’s economic growth was 0.6%, coming in lower than the preliminary estimate. “Although after three years of decline this was the first year of growth, last year will remain a year of disappointment. Growth was expected, but it turned out to be modest,”…
Runikon Retail, which operated IKEA stores in Estonia, increased its turnover by nearly EUR 6 million in the past financial year, reaching nearly EUR 97 million. The company posted a profit of EUR 5.6 million. Runikon Retail said in its report that its turnover in the past financial year – which began in September 2024…
Estonia is extending vocational programs to four years and boosting their general education component, giving students a stronger foundation to continue into higher education. The new extended programs include an introductory first year, letting students explore the field, build general skills and receive career guidance before choosing a specialty, the Ministry of Education and Research…