Five bus companies have sent a joint appeal to the Estonian president, prime minister and government seeking to make changes to contracts concluded with the state, as rising fuel prices are making it impossible for them to fulfill their contractual obligations under current contract conditions. According to the appeal, which was signed by Hansabuss, Sebe,…
Russia’s full-scale invasion of Ukraine has prompted economic sanctions as well as talk of terminating business in Russia, but the import of raw materials from Russia to Estonia is still in the process of winding down. According to involved parties, however, things are heading in that direction, with companies taking full advantage of contracts concluded…
The average gross monthly wage in Estonia rose by 8.1% YoY in the first quarter of 2022, state agency Statistics Estonia reported, to EUR 1,593. Argo Tarkiainen, analyst at Statistics Estonia, said: “Average gross wages were the lowest in accommodation and food services (EUR 974), other services (EUR 1,160) and real estate activities (EUR 1,162),”…
The total construction volume of Estonian construction enterprises both in Estonia and abroad combined rose by 14% YoY in the first quarter of 2022, state agency Statistics Estonia reported. Merike Sinisaar, leading analyst at Statistics Estonia, said: “The higher volume of construction in foreign countries was mainly due to civil engineering activities. Construction in foreign…
The management of Estonia’s Transport Administration has decided to establish a fund worth nearly EUR 1 million to help bus carriers cope with the sharp rise in fuel prices. The fund was launched as a one-time measure to cover the first half of 2022; in the second half of the year, contractual indexations are slated…
The housing loans portfolio continued to grow in recent volume in April, gaining EUR 194 million, while the preparedness of companies to invest with the help of loans was dwindling, the Estonian Banking Association said. The Estonian Banking Association said that companies’ loan portfolio fell short of EUR 300 million for the fourth consecutive month.…
The European Commission’s recommendations for Estonia include expanding unemployment insurance benefits to cover non-standard forms of work and updating vehicles. The European Commission on May 23 published its country-specific recommendations for the next six months. The Commission urges Estonia to expedite renewable energy projects, secure cross-border energy links and render the transport sector more environmentally…