The Estonian government decided on April 9 to halt a EUR 500-million procurement program for new combat vehicles, redirecting the funds toward air defense, drones and unmanned systems, Defense Minister Hanno Pevkur said. Experience from Ukraine, market conditions and military advice from the commander of the defense forces led to the decision to suspend the…
The total production of industrial enterprises decreased by 0.5% at constant prices compared with February last year, data from Statistics Estonia showed. One economist called the figures surprising. Riin Kadarik, leading analyst at Statistics Estonia, said that manufacturing production, which had increased for three months, started to decrease in February. “This was influenced by the…
The Bank of Estonia recommends that people keep a supply of cash while also preparing for the introduction of the digital euro. Although most everyday payments in Estonia are already made by card or mobile phone, this does not mean that cash has lost its importance. On the contrary, the Bank of Estonia (Eesti Pank)…
According to the Estonian Ministry of Finance forecast published on April 2, growth will be driven by stronger private consumption-supported by changes to the income tax system-along with improving external demand that will stimulate corporate investment, and increased government spending. The ministry projects real GDP to grow by 2.3% this year and by 2.5% in…
The company behind the planned EUR 300-million large-caliber ammunition factory to be built in the Pohja-Kivioli defense industry park is a Swedish defense industry firm. Defense Minister Hanno Pevkur (Reform) announced last week that the state had reached an agreement with a manufacturer of 155-millimeter ammunition to build a factory in Estonia, noting that the…
Electric scooter rental provider Tuul Mobility OU has filed for bankruptcy after being unable to pay bond interest. Tuul had been a competitor to Bolt in the e-scooter rentals market for several years. The company on March 27 filed for bankruptcy with the Harju County Court. “I sincerely regret and apologize to investors that, despite…
According to data from Eurostat, food prices in the European Union were the highest in Luxembourg in 2024, while Estonia ranked ninth in price levels among the bloc’s 27 countries. Eurostat noted that in Luxembourg, food prices stood at 126% of the EU average, followed by Denmark, Ireland, France, Malta and Austria. Finland ranked seventh…