In January, the consumer price index, which expressed the change in the prices of consumer goods and services, rose by 0.2% YoY, state agency Statistics Estonia reported. In addition, goods were 0.8% cheaper than in January 2020, while services were 2% more expensive. Viktoria Trasanov, leading analyst at Statistics Estonia, said that compared to January…
Registered unemployment in Estonia increased to 8.3% in December 2020 with the largest rate of unemployment present in Ida-Viru County. The most common for unemployed persons registering with the Unemployment Insurance Fund (Tootukassa) last year was layoffs. In 2020, the fund registered a total of 110,942 unemployed people, up by 30.6% YoY. There were 87,877…
Minister of the Environment Tonis Molder (Center) said he would not rule out using hydrogen and nuclear energy as an alternative to oil shale. Molder noted that while the new government had set its sights on exiting the production of oil shale energy and later oil shale in general as an energy source, the jobs…
Total industrial enterprises’ production fell by 5% in 2020, compared with the previous year, state agency Statistics Estonia reported. Production decreased in all three main industrial sectors: by 19% in energy production, by 13% in mining and by 4% in manufacturing. Statistics Estonia analyst Helle Bunder said that manufacturing production also fell in 2020, by…
Swedbank Estonia finished 2020 with a net profit of EUR 178.7 million, down by 9.8% YoY. The reduction in earnings was mainly attributable to increased costs and funds to cover credit impairments, the bank said on February 1. Lending volumes increased by 3%, household lending by 4%, corporate lending by 2% and deposits by 17%.…
Bank of Estonia governor Madis Muller said Estonia invested less in innovation and digital solutions than the European Union average, which endangered the country’s competitiveness in the long run. Speaking at a joint investment seminar of the Bank of Estonia and the European Investment Bank (EIB), Muller emphasized that in order to maintain Estonia’s competitiveness,…
The state will continue developing highways section by section, as continuing with developments using large-scale procurements is not reasonable, Minister of Economic Affairs and Infrastructure Taavi Aas (Center) has said. “The capacity of the procurement depends much on how much has been prepared. I do not mean only projects but other preparations as well. There…