In the second quarter of 2021, the total production value of Estonian construction enterprises in Estonia and abroad increased by 17% YoY, data from Statistics Estonia showed. Considering only the Estonian construction market, the growth in construction volume was 18%. The production value of Estonian construction enterprises totaled EUR 921 million, whereas building construction accounted…
Better-than-expected economic performance, and with it higher tax revenues, has raised questions whether spring’s proposed cuts of EUR 60 million to the state budget will go ahead unchanged. However, more will be known following the economic forecast published in September, and ahead of the state budget for 2022 itself, which must be finalized at the…
Listed Estonian port company Tallinna Sadam (Port of Tallinn) is looking for the best ways to convert ferries to hydrogen fuel and to provide hydrogen refueling capacity for cruise ships in the Old City Harbor of Tallinn. The company has unveiled an ambitious plan to lay out the hub of the Baltic Sea green infrastructure…
R-Kiosk retail chain has reported 2020 losses of EUR 4.1 million. Taken with previous accounting periods, the company had accumulated losses of EUR 5.8 million as of the end of the 2020 accounting year. In 2019, the company lost EUR 2.2 million and EUR 1.6 million in the previous year. Sales revenue fell by 18.1%,…
While annual inflation in the euro area accelerated from 1.9% in June to 2.2% in July, in Estonia inflation sped from 3.7% to 4.9% and was also the fastest in the euro area, data from Eurostat showed. European Union annual inflation was 2.5% in July, up from 2.2% in June. A year earlier, the rate…
Public administration minister Jaak Aab (Center) says that a compromise can be met over a controversial planning application to build an indoor training hall for top-flight Tallinn football team Levadia on a plot adjacent to the Memorial to the Victims of Communism. An administrative building, rather than a training facility, could be built instead, Aab…
The labor shortage is keeping wage growth fast and the average gross salary will increase by 6% this year, Swedbank senior economist Liis Elmik has said. Data from Statistics Estonia released on August 16 showed that unemployment decreased from 7.1% in the first quarter to 6.9% in the second quarter. There were 2,000 fewer jobseekers…