Finnish carrier Finnair has announced that it will add 17 weekly flights to the Helsinki-Tallinn service in the summer 2018 season, flying up to ten trips between the two capitals a day. In addition, Finnair will add three new destinations and capacity to its popular long-haul destinations. Up to three additional departures per day will…
Estonia continued to be a net saver, and the country’s economy was not about to overheat, Tonu Palm, chief economist at Nordea, said in his comments on the reported 5.7% GDP growth. “The economy’s rapid growth stems from a low reference base in a situation where there has been underinvestment for years. Loan growth is…
The combined power plant in Paide now has a new liquid natural gas (LNG) boiler unit to cover peak-time demand. The plant usually burns wood chips, but so far depended on an old fuel oil boiler for peak-time production. Eesti Energia’s renewable energy subsidiary, Enefit Taastuvenergia, announced that the change would allow them to finally…
According to Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 5.7% in the second quarter of 2017 compared to the same period in 2016. In the second quarter GDP at current prices reached EUR 5.8 billion. The seasonally and working-day adjusted GDP grew by 1.3% QoQ and by 5.2% YoY. The biggest…
Swedbank raised Estonia’s 2017 real growth forecast by 1.3%, to 3.5%, and next year’s forecast by 0.4%, to 3.2% in its latest economic outlook. In April the bank estimated that Estonia’s gross domestic product growth would total 2.2% this year, and 2.8% in 2018. The newly revised forecast is a lot more optimistic, though the…
Tallinn public transportation company Tallinna Linnatranspordi AS (TLT) is to begin testing the fully electric Solaris Urbino 12 Electric bus in the capital city on August 15. “Solaris Urbino 12 Electric is the factory’s prototype bus, which will be used for introducing the technological solution of a fully electric bus as well as assessing its…
In the coming months inflation should be around 3% in Estonia as a result of external factors and tax changes, said Kristjan Pungas, analyst at the Ministry of Finance’s Fiscal Policy Department. In March, price levels in Estonia and the eurozone in general were influenced by the increase of energy prices slowing down. “At the…