The government approved the state budget strategy for 2022-2025, after the two coalition parties, Reform and Center, reached agreement during negotiations this week. Minister of Finance Keit Pentus-Rosimannus (Reform) said a week ago that the state budget strategy’s main aim for the four years was to support important reforms. To that end, it has set…
Minister of Public Administration Jaak Aab (Center) confirmed that the government had reached a compromise on the state budget strategy discussions and the strategy would be approved on April 29. “We have agreed in principle. It is not like anyone is jumping for joy for this strategy. There are problems and we have had to…
The government reached an agreement on a four-year state budget strategy with Minister of Finance Keit Pentus-Rosimannus (Reform) saying there were cuts to be made on fixed costs. The new budget strategy will work towards balancing the budget and cuts will be made in every area of government. Each sector will propose where savings can…
A grand shift in thought patterns is taking place in USA following the change of administration, the importance of which for the Estonian economy cannot be overestimated, James York writes. U.S. imports were down by 6% last year, while Estonian export to the U.S. grew by 15.5%, to EUR 1.123 billion. While various trends speak…
Registered unemployment rose from 5.8% to 8.7% YoY as of the end of the first quarter of 2021, particularly in more rural counties, which had been hit hard by the ongoing economic effects of the pandemic even if their reported coronavirus rates were not as high as other areas. Women, too, have been hit more…
Tax take from Estonia’s e-residency system rose by around a third YoY in 2020, the state agency Enterprise Estonia reported, a record year in terms of direct economic impact since the system was launched in 2014. Companies set up by individuals all over the world who are registered e-residents paid in close to EUR 17.5…
New opportunities for Estonian businesses have emerged during the COVID-19 crisis, as global supply chains get shorter and become more regional, Governor of the Bank of Estonia (Eesti Pank) Madis Muller has said at a conference on economic security. Muller said there was a global trend in shortening the supply chains for the production of…