The government on September 29 agreed on the state budget for 2021 with expenditures amounting to approximately EUR 13 billion and revenues at over EUR 11 billion. Funding for research will increase to 1% of GDP and pensions will rise. Prime Minister Juri Ratas (Center) said the purpose of the budget was to accelerate economic…
Electrical equipment manufacturer Harju Elekter has concluded an eight-year, approximately EUR 20-million framework agreement with regional Finnish electricity distribution system operator Elenia OY. The parties signed the first agreement for the years 2021-2023, which granted the Finnish company the right to organize mini-tenders among partners who entered into the framework agreement. Additionally, a supply contract…
In August, the producer price index of industrial output increased by 1.1% MoM, but decreased by 2.2% YoY, data from Statistics Estonia shoed. Leading analyst at Statistics Estonia Eveli Sokman said, in August, compared to July, the producer price index was affected primarily by price increase in electricity supply. “Price decreases in the manufacture of…
As part of Ida-Viru County’s plans for transition to a sustainable economy, Estonia’s state-owned energy group Eesti Energia is seeking to build a methanol production complex in the county with an estimated cost of EUR 280 million. In an overview of Eesti Energia’s development projects sent to Minister of Public Administration Jaak Aab (Center), Minister…
More than 56% of the population made an online purchase in the last three months and spending has increased. More than half of companies, which use the Internet, are using paid-for cloud services. Newly released data from Statistics Estonia showed that 56.5% of the population aged 16-74 used e-commerce in the last three months. Compared…
Tartu has generated EUR 800,000 less income than its expenditures over the period of January-August and has reported a total revenue of EUR 124.7 million, the city’s government says, representing 71% of the amount budgeted for the year. The largest single item, at EUR 60.6-million revenue over the eight-month period, was personal income tax. The…
SEB has seen a 40% fall in the number of grace periods it has granted to loan clients since early summer, largely as a result of a fall in applications as economic part-recovery began through summer, after the coronavirus emergency situation ended. Clients can still apply for grace periods, through to late September. Grace periods…