Minister of Finance Martin Helme (EKRE) said at a government press conference that Estonia had a deficit budget this year and would likely have one in several years to come. An extension of wage support for the tourism industry is not on the cards. Helme added that if the wish were to balance the state…
Ferry company Tallink Grupp has said that more than 2,000 jobs are at risk if salary compensation schemes are not extended in Estonia and Finland or travel restrictions are lifted. The company is currently undergoing an “extensive reorganization”. Nearly all 1,200 Tallink Silja OY employees are affected by the lay-offs, both in the company’s onshore…
Gross Domestic Product (GDP) fell by 6.9% YoY in the second quarter of 2020, according to the state agency Statistics Estonia. GDP at current prices stood at EUR 6.4 billion. Robert Muursepp, leading analyst at Statistics Estonia, says most economic activities experienced an economic downturn as a result of the emergency situation. “Accommodation and food…
Testing of the digital trade route from Estonia to Poland starts, during which the Estonian Tax and Customs Board and the Police and Border Guard Board will try to use real-time document management systems to reduce paperwork in the logistics sector in the future. During testing, it will no longer be necessary to stop the…
In the second quarter of 2020, the average monthly gross wage and salary was EUR 1,433, up by 1% YoY, data from statistics Estonia showed. The year-on-year growth has not been as modest for ten years. In the second quarter of 2020 the average monthly gross wages and salaries were the highest in Harju County…
Construction firms’ total production fell by 8% YoY in April-June, state agency Statistics Estonia reported. At the same time, the volume of residential buildings completed rose. The figures include construction by Estonian companies abroad, taking the home market alone, construction volume fell by 5%, Statistics Estonia said. The production value for construction enterprises totaled EUR…
Grid distributor Elering paid out EUR 8 million in renewable energy support and high-efficiency cogeneration support in July to several generators and other companies. Enefit Green, renewable energy subsidiary of state-owned Eesti Energia group, received EUR 440,900 and its subsidiary Enefit Wind got over EUR 1.7 million in renewable energy subsidies over the month of…