The International Monetary Fund (IMF) has warned Estonia that if it continues on its current course, the country’s public debt is heading down an unsustainable path. An IMF delegation visiting Estonia from late May through June 9 discussed the state of the Estonian economy and economic policy measures with representatives of the public and private…
Tallinn Airport set a new passenger record in May, handling over 354,000 passengers in a single month and seeing a 13% YoY increase. Eero Pargmae, member of the management board of Tallinn Airport, said the biggest factor behind the growth is low-cost carrier Wizz Air’s expansion in Tallinn. While the airline offered only one direct…
To prevent fraud, the state is planning changes that would slow down large bank transfers and ATM cash withdrawals to give banks time to verify the transaction. Every year, people and institutions in Estonia lose millions of euros to scammers. The state is looking for ways to curb the epidemic, though the measures will inevitably…
A bill is currently at the Riigikogu which, if it passes, will allow 16- and 17-year-old wait staff to serve alcoholic drinks. Proponents say the change will give employers more flexibility and expand youth job opportunities. At present, the minimum age at which staff can serve alcohol is the same as the legal age to…
The Estonian Hotel and Restaurant Association calls on the government to regulate short-term accommodation platforms to ensure fair market competition for hotels. Data from Statistics Estonia show that nearly 2 million overnight stays were booked through accommodation platforms last year – about a quarter more than before the COVID-19 pandemic. According to Kulli Kraner, executive…
The Michelin Guide Estonia this year recommends 43 restaurants. Five new venues were added to the main selection, while the country’s existing one- and two-star restaurants retained their status. Estonia’s only two-Michelin-star restaurant, 180o by Matthias Diether, retained its status, as did NOA Chef’s Hall, which kept its one Michelin star. The Bib Gourmand list,…
In the first quarter, Estonia’s unemployment rate was 7.1% and the employment rate was 68%, according to Statistics Estonia. According to Tea Vassiljeva, the labor market showed no signs of sharp changes in either direction in the first quarter. “There were 52,200 unemployed people in the first quarter, which was 5,100 more than in the…